BridgePort Financial Solutions LLC Grows Stake in Novo Nordisk A/S $NVO

BridgePort Financial Solutions LLC grew its holdings in Novo Nordisk A/S (NYSE:NVO) by 90.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 11,583 shares of the company’s stock after buying an additional 5,488 shares during the quarter. BridgePort Financial Solutions LLC’s holdings in Novo Nordisk A/S were worth $799,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Unified Investment Management purchased a new stake in Novo Nordisk A/S in the 2nd quarter worth approximately $692,000. 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 valued at $72,523,000 after purchasing an additional 1,038,137 shares during the period. Norden Group LLC grew its stake in Novo Nordisk A/S by 216.3% in the second quarter. Norden Group LLC now owns 96,332 shares of the company’s stock worth $6,649,000 after purchasing an additional 65,877 shares during the period. Farther Finance Advisors LLC grew its stake 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 purchasing an additional 33,794 shares during the period. Finally, Ridgewood Investments LLC raised its holdings in Novo Nordisk A/S by 205.4% in the second quarter. Ridgewood Investments LLC now owns 6,627 shares of the company’s stock worth $457,000 after purchasing an additional 4,457 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Up 1.6%

Shares of NYSE:NVO opened at $59.68 on Friday. The stock has a fifty day simple moving average of $54.92 and a two-hundred day simple moving average of $63.73. The stock has a market capitalization of $266.45 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 2.28 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. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $11.69 billion during the quarter, compared to analysts’ expectations of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. On average, research 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 firm also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were paid a $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S’s payout ratio is currently 22.53%.

Analyst Ratings Changes

A number of equities analysts have issued reports on NVO shares. Zacks Research upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Wall Street Zen downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Rothschild Redb upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 16th. Hsbc Global Res upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Finally, BNP Paribas upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S has an average rating of “Moderate Buy” and an average target price 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.