Carson Advisory Inc. Invests $310,000 in Novo Nordisk A/S $NVO

Carson Advisory Inc. acquired a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,498 shares of the company’s stock, valued at approximately $310,000.

Several other institutional investors also recently modified their holdings of the company. Jennison Associates LLC increased its stake in shares of Novo Nordisk A/S by 0.3% during the 2nd quarter. Jennison Associates LLC now owns 18,885,343 shares of the company’s stock worth $1,303,466,000 after purchasing an additional 63,341 shares during the last quarter. Kingstone Capital Partners Texas LLC increased its stake in shares of 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 worth $690,560,000 after purchasing an additional 10,001,898 shares during the last quarter. Folketrygdfondet increased its stake in shares of Novo Nordisk A/S by 6.9% during the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company’s stock worth $661,202,000 after purchasing an additional 617,974 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Novo Nordisk A/S by 11.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company’s stock worth $395,291,000 after purchasing an additional 576,900 shares during the last quarter. Finally, Sustainable Growth Advisers LP increased its stake in shares of Novo Nordisk A/S by 3.8% during the 1st quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company’s stock worth $384,923,000 after purchasing an additional 202,443 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on NVO. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price objective on the stock in a research note on Wednesday, August 13th. HSBC set a $70.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, October 1st. Dbs Bank upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, August 22nd. 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. Finally, Rothschild Redb upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $76.00.

Novo Nordisk A/S Stock Down 1.3%

Shares of NVO opened at $49.40 on Friday. The firm’s 50-day simple moving average is $56.17 and its 200 day simple moving average is $61.92. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $113.02. The firm has a market cap of $220.58 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 2.33 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78.

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, 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 firm had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. On average, analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced 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. 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 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.