Hazlett Burt & Watson Inc. Purchases 1,516 Shares of Novo Nordisk A/S $NVO

Hazlett Burt & Watson Inc. increased its position in Novo Nordisk A/S (NYSE:NVO) by 14.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 11,829 shares of the company’s stock after buying an additional 1,516 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Novo Nordisk A/S were worth $817,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. CWM LLC boosted its holdings in Novo Nordisk A/S by 37.1% in the 2nd quarter. CWM LLC now owns 107,998 shares of the company’s stock worth $7,454,000 after buying an additional 29,246 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in Novo Nordisk A/S by 17.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 149,916 shares of the company’s stock worth $10,349,000 after buying an additional 22,191 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in Novo Nordisk A/S by 35.5% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 59,441 shares of the company’s stock worth $4,103,000 after buying an additional 15,585 shares during the period. Johnson Investment Counsel Inc. boosted its holdings in Novo Nordisk A/S by 28.4% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 20,379 shares of the company’s stock worth $1,407,000 after buying an additional 4,511 shares during the period. Finally, Sivik Global Healthcare LLC boosted its holdings in Novo Nordisk A/S by 42.9% in the 2nd quarter. Sivik Global Healthcare LLC now owns 100,000 shares of the company’s stock worth $6,902,000 after buying an additional 30,000 shares during the period. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 3.0%

Shares of NYSE NVO opened at $56.95 on Monday. The firm’s 50-day moving average price is $55.44 and its 200-day moving average price is $63.11. 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 stock has a market capitalization of $254.27 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 2.58 and a beta of 0.68. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $120.56.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share 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 company had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. On average, equities research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced 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 currently 22.53%.

Wall Street Analysts Forecast Growth

Several research firms have commented on NVO. BNP Paribas Exane raised shares of 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. Rothschild Redb raised shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 16th. Berenberg Bank raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Wednesday, September 17th. Hsbc Global Res raised shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Zacks Research raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.50.

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.