Hazlett Burt & Watson Inc. Increases Stock Position in Novo Nordisk A/S $NVO

Hazlett Burt & Watson Inc. increased its position in Novo Nordisk A/S (NYSE:NVO) by 14.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,829 shares of the company’s stock after acquiring an additional 1,516 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Novo Nordisk A/S were worth $817,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. CWM LLC raised its holdings in Novo Nordisk A/S by 37.1% in the 2nd quarter. CWM LLC now owns 107,998 shares of the company’s stock worth $7,454,000 after acquiring an additional 29,246 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Novo Nordisk A/S by 17.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 149,916 shares of the company’s stock worth $10,349,000 after acquiring an additional 22,191 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in Novo Nordisk A/S by 35.5% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 59,441 shares of the company’s stock worth $4,103,000 after acquiring an additional 15,585 shares during the last quarter. Johnson Investment Counsel Inc. raised its holdings in Novo Nordisk A/S by 28.4% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 20,379 shares of the company’s stock worth $1,407,000 after acquiring an additional 4,511 shares during the last quarter. Finally, Sivik Global Healthcare LLC raised its holdings in Novo Nordisk A/S by 42.9% in the 2nd quarter. Sivik Global Healthcare LLC now owns 100,000 shares of the company’s stock worth $6,902,000 after acquiring an additional 30,000 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 3.0%

Shares of NVO stock opened at $56.95 on Monday. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $120.56. The firm has a fifty day moving average price of $55.44 and a 200-day moving average price of $63.11. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The company has a market cap of $254.27 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 2.58 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last issued 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. 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 during the quarter, compared to the consensus estimate of $77.51 billion. As a group, equities analysts predict 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 disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders 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 dividend yield of 240.0%. Novo Nordisk A/S’s payout ratio is presently 22.53%.

Analyst Upgrades and Downgrades

NVO has been the subject of a number of research reports. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 target price for the company in a research note on Wednesday, August 13th. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. Morgan Stanley lowered shares of Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and decreased their target price for the company from $59.00 to $47.00 in a research note on Monday, September 29th. 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, 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. Two equities research 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 given a Sell rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and a consensus target price of $77.50.

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.