Novo Nordisk A/S $NVO Position Raised by Cornerstone Advisory LLC

Cornerstone Advisory LLC lifted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 19.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,640 shares of the company’s stock after acquiring an additional 596 shares during the period. Cornerstone Advisory LLC’s holdings in Novo Nordisk A/S were worth $251,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of NVO. Kingstone Capital Partners Texas LLC boosted its stake in Novo Nordisk A/S by 301,443.6% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock valued at $690,560,000 after purchasing an additional 10,001,898 shares during the period. Folketrygdfondet boosted its position in shares of Novo Nordisk A/S by 6.9% during the first quarter. Folketrygdfondet now owns 9,521,912 shares of the company’s stock worth $661,202,000 after buying an additional 617,974 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Novo Nordisk A/S by 11.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company’s stock worth $395,291,000 after buying an additional 576,900 shares during the period. Sustainable Growth Advisers LP grew its holdings in Novo Nordisk A/S by 3.8% in the 1st quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company’s stock worth $384,923,000 after buying an additional 202,443 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Novo Nordisk A/S in the 1st quarter valued at approximately $370,272,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $53.24 on Friday. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $115.26. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average of $56.55 and a two-hundred day moving average of $62.45. The company has a market capitalization of $237.70 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 2.43 and a beta of 0.68.

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

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NVO. Barclays reissued an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Berenberg Bank upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. Dbs Bank upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, August 22nd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $55.00 price target (up from $50.00) on shares of Novo Nordisk A/S in a research note on Tuesday, October 14th. Finally, UBS Group lowered shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.00.

Novo Nordisk A/S Company Profile

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.