Cromwell Holdings LLC Acquires 1,436 Shares of Novo Nordisk A/S $NVO

Cromwell Holdings LLC boosted its holdings in Novo Nordisk A/S (NYSE:NVO) by 25.2% in the second quarter, HoldingsChannel reports. The firm owned 7,140 shares of the company’s stock after purchasing an additional 1,436 shares during the period. Cromwell Holdings LLC’s holdings in Novo Nordisk A/S were worth $493,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Hilltop National Bank bought a new stake in Novo Nordisk A/S in the second quarter worth approximately $226,000. Hardman Johnston Global Advisors LLC increased its holdings in Novo Nordisk A/S by 33.0% in the second quarter. Hardman Johnston Global Advisors LLC now owns 149,855 shares of the company’s stock worth $10,343,000 after purchasing an additional 37,199 shares in the last quarter. Matauro LLC bought a new stake in Novo Nordisk A/S in the second quarter worth approximately $2,163,000. Red Mountain Financial LLC bought a new stake in shares of Novo Nordisk A/S during the second quarter valued at approximately $157,000. Finally, J. Safra Sarasin Holding AG bought a new stake in shares of Novo Nordisk A/S during the second quarter valued at approximately $587,000. 11.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NVO. Berenberg Bank upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Wednesday, September 17th. BNP Paribas upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 13th. Hsbc Global Res upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Barclays restated an “equal weight” rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Finally, BNP Paribas Exane upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price objective for the company in a report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.50.

Novo Nordisk A/S Trading Down 0.7%

Shares of Novo Nordisk A/S stock opened at $58.77 on Friday. The stock has a fifty day simple moving average of $55.16 and a 200 day simple moving average of $63.98. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $120.56. The company has a market capitalization of $262.42 billion, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 2.27 and a beta of 0.68. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The business had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. On average, sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were paid a $0.4119 dividend. This represents a yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio is 22.53%.

About Novo Nordisk A/S

Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease.