Brookstone Capital Management Has $1.52 Million Stock Position in Novo Nordisk A/S $NVO

Brookstone Capital Management increased its stake in Novo Nordisk A/S (NYSE:NVO) by 55.3% during the second quarter, Holdings Channel.com reports. The fund owned 22,037 shares of the company’s stock after buying an additional 7,848 shares during the period. Brookstone Capital Management’s holdings in Novo Nordisk A/S were worth $1,521,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NVO. Copeland Capital Management LLC increased its holdings in Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock worth $27,000 after purchasing an additional 255 shares in the last quarter. North Capital Inc. bought a new stake in Novo Nordisk A/S in the first quarter worth approximately $27,000. Stone House Investment Management LLC bought a new stake in Novo Nordisk A/S in the first quarter worth approximately $30,000. Disciplina Capital Management LLC increased its holdings in Novo Nordisk A/S by 162.3% in the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock worth $33,000 after purchasing an additional 297 shares in the last quarter. Finally, Dagco Inc. bought a new stake in Novo Nordisk A/S in the first quarter worth approximately $35,000. 11.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on NVO. Morgan Stanley downgraded Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and lowered their target price for the stock from $59.00 to $47.00 in a report on Monday, September 29th. Sanford C. Bernstein upgraded Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 9th. Weiss Ratings restated a “hold (c)” rating on shares of Novo Nordisk A/S in a report on Tuesday, October 14th. Barclays restated an “equal weight” rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. 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 given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and an average price target of $76.00.

Novo Nordisk A/S Trading Down 0.4%

NYSE NVO opened at $53.02 on Friday. The company has a market cap of $236.74 billion, a price-to-earnings ratio of 14.57, a P/E/G ratio of 2.42 and a beta of 0.68. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $114.19. The business has a 50 day moving average price of $56.56 and a 200-day moving average price of $62.39. 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 quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The business had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. As a group, equities analysts expect 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 declared a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were issued a dividend of $0.4119 per share. The ex-dividend date was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio is 22.53%.

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.