Bridges Investment Management Inc. Takes $1.08 Million Position in Novo Nordisk A/S (NYSE:NVO)

Bridges Investment Management Inc. acquired a new position in shares of Novo Nordisk A/S (NYSE:NVO) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,550 shares of the company’s stock, valued at approximately $1,078,000.

Other institutional investors have also added to or reduced their stakes in the company. GQG Partners LLC lifted its position in shares of Novo Nordisk A/S by 654.6% in the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after purchasing an additional 3,151,584 shares during the period. Capital International Investors boosted its position in Novo Nordisk A/S by 22.3% during the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock valued at $736,121,000 after acquiring an additional 1,297,536 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Novo Nordisk A/S by 1,300.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock worth $159,703,000 after acquiring an additional 1,155,313 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Novo Nordisk A/S by 10.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after acquiring an additional 823,036 shares in the last quarter. Finally, Norden Group LLC lifted its stake in shares of Novo Nordisk A/S by 2,456.0% in the 1st quarter. Norden Group LLC now owns 658,856 shares of the company’s stock valued at $84,597,000 after purchasing an additional 633,079 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NVO has been the subject of several recent analyst reports. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. BMO Capital Markets reduced their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price on the stock. Argus raised their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Monday, September 16th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Novo Nordisk A/S currently has an average rating of “Buy” and an average price target of $145.17.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $127.51 on Friday. The company has a market cap of $572.21 billion, a P/E ratio of 43.97, a PEG ratio of 1.48 and a beta of 0.42. The company has a fifty day simple moving average of $133.13 and a 200 day simple moving average of $133.20. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a 12-month low of $86.96 and a 12-month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Sell-side analysts predict that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were paid a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

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.