Foster Group Inc. Grows Stake in Novo Nordisk A/S $NVO

Foster Group Inc. increased its position in Novo Nordisk A/S (NYSE:NVO) by 14.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,554 shares of the company’s stock after acquiring an additional 444 shares during the quarter. Foster Group Inc.’s holdings in Novo Nordisk A/S were worth $245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC lifted its stake in shares of Novo Nordisk A/S by 15,919.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock worth $72,523,000 after purchasing an additional 1,038,137 shares during the period. Ridgewood Investments LLC increased its holdings in Novo Nordisk A/S by 205.4% during the second quarter. Ridgewood Investments LLC now owns 6,627 shares of the company’s stock valued at $457,000 after buying an additional 4,457 shares during the last quarter. Farther Finance Advisors LLC raised its position in Novo Nordisk A/S by 48.7% in the second quarter. Farther Finance Advisors LLC now owns 103,138 shares of the company’s stock worth $7,119,000 after acquiring an additional 33,794 shares during the period. North Star Investment Management Corp. boosted its stake in shares of Novo Nordisk A/S by 18.2% during the 1st quarter. North Star Investment Management Corp. now owns 20,742 shares of the company’s stock worth $1,440,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Eldred Rock Partners LLC grew its position in shares of Novo Nordisk A/S by 72.0% during the 2nd quarter. Eldred Rock Partners LLC now owns 165,219 shares of the company’s stock valued at $11,403,000 after acquiring an additional 69,184 shares during the period. Institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

NVO has been the topic of a number of recent research reports. Rothschild & Co Redburn raised Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 16th. Wall Street Zen downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Zacks Research downgraded Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 20th. Barclays restated an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Finally, TD Cowen lowered their price target on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $81.00.

Novo Nordisk A/S Price Performance

NVO stock opened at $60.70 on Tuesday. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $127.61. The firm has a market capitalization of $271.03 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 2.33 and a beta of 0.66. The company has a fifty day simple moving average of $56.71 and a two-hundred day simple moving average of $64.92. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $11.69 billion for the quarter, compared to analysts’ expectations of $77.51 billion. 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 business also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were paid a $0.4119 dividend. This represents a dividend yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 22.53%.

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.