Osterweis Capital Management Inc. Grows Stake in Novo Nordisk A/S $NVO

Osterweis Capital Management Inc. grew its holdings in Novo Nordisk A/S (NYSE:NVO) by 0.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 228,690 shares of the company’s stock after buying an additional 1,071 shares during the quarter. Osterweis Capital Management Inc.’s holdings in Novo Nordisk A/S were worth $15,880,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of America Corp DE lifted its stake in shares of Novo Nordisk A/S by 8.1% in the 4th quarter. Bank of America Corp DE now owns 15,492,384 shares of the company’s stock valued at $1,332,655,000 after purchasing an additional 1,165,955 shares during the period. Folketrygdfondet lifted its stake in shares of Novo Nordisk A/S by 6.9% in the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company’s stock valued at $661,202,000 after purchasing an additional 617,974 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of Novo Nordisk A/S by 73.2% in the 4th quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company’s stock valued at $537,189,000 after purchasing an additional 2,639,693 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Novo Nordisk A/S by 11.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company’s stock valued at $395,291,000 after purchasing an additional 576,900 shares during the period. Finally, Sustainable Growth Advisers LP lifted its stake in shares of 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 valued at $384,923,000 after purchasing an additional 202,443 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Up 1.8%

NVO stock opened at $54.7420 on Wednesday. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $139.74. The business has a fifty day moving average price of $64.03 and a 200-day moving average price of $69.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The stock has a market capitalization of $244.42 billion, a P/E ratio of 15.04, a P/E/G ratio of 1.84 and a beta of 0.63.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 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 company had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. Equities analysts forecast 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 declared a semi-annual dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th will be issued a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date of this dividend is Monday, August 18th. Novo Nordisk A/S’s payout ratio is currently 22.53%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wall Street Zen cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. UBS Group lowered Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 5th. TD Cowen reduced their price objective on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday. Dbs Bank lowered Novo Nordisk A/S to a “sell” rating in a research report on Friday, April 25th. Finally, HSBC lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $57.00 price objective for the company. in a research report on Thursday, July 31st. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $81.00.

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.