Aurora Investment Counsel Takes $2.02 Million Position in Novo Nordisk A/S $NVO

Aurora Investment Counsel acquired a new stake in shares of Novo Nordisk A/S (NYSE:NVO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,260 shares of the company’s stock, valued at approximately $2,020,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Novo Nordisk A/S during the second quarter valued at approximately $37,000. Klingman & Associates LLC boosted its stake in shares of Novo Nordisk A/S by 83.4% during the second quarter. Klingman & Associates LLC now owns 6,055 shares of the company’s stock valued at $418,000 after purchasing an additional 2,753 shares during the period. Pittenger & Anderson Inc. boosted its stake in shares of Novo Nordisk A/S by 40.0% during the second quarter. Pittenger & Anderson Inc. now owns 78,863 shares of the company’s stock valued at $5,443,000 after purchasing an additional 22,521 shares during the period. Phoenix Financial Ltd. boosted its stake in shares of Novo Nordisk A/S by 64.1% during the second quarter. Phoenix Financial Ltd. now owns 54,378 shares of the company’s stock valued at $3,771,000 after purchasing an additional 21,247 shares during the period. Finally, Avidian Wealth Enterprises LLC boosted its stake in shares of Novo Nordisk A/S by 8.6% during the second quarter. Avidian Wealth Enterprises LLC now owns 11,947 shares of the company’s stock valued at $825,000 after purchasing an additional 947 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $55.78 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $249.04 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 2.50 and a beta of 0.68. The stock has a fifty day moving average of $56.36 and a 200 day moving average of $62.64. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $117.96.

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

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NVO shares. TD Cowen dropped 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 note on Tuesday, August 19th. Wall Street Zen lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Sanford C. Bernstein raised Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. Berenberg Bank raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Wednesday, September 17th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $55.00 price target (up previously from $50.00) on shares of Novo Nordisk A/S in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. 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 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.