Aurora Investment Counsel Takes Position in Novo Nordisk A/S $NVO

Aurora Investment Counsel purchased a new stake in shares of Novo Nordisk A/S (NYSE:NVO) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 29,260 shares of the company’s stock, valued at approximately $2,020,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Unified Investment Management bought a new stake in shares of Novo Nordisk A/S during the second quarter valued at about $692,000. Acadian Asset Management LLC increased its position in shares of Novo Nordisk A/S by 15,919.9% during the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock valued at $72,523,000 after buying an additional 1,038,137 shares during the period. Norden Group LLC increased its position in shares of Novo Nordisk A/S by 216.3% during the second quarter. Norden Group LLC now owns 96,332 shares of the company’s stock valued at $6,649,000 after buying an additional 65,877 shares during the period. Guild Investment Management Inc. increased its position in shares of Novo Nordisk A/S by 20.7% during the second quarter. Guild Investment Management Inc. now owns 36,995 shares of the company’s stock valued at $2,553,000 after buying an additional 6,345 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of Novo Nordisk A/S by 48.7% during the second quarter. Farther Finance Advisors LLC now owns 103,138 shares of the company’s stock valued at $7,119,000 after buying an additional 33,794 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NVO has been the topic of several research analyst reports. Berenberg Bank upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. Morgan Stanley cut shares of Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and decreased their price objective for the stock from $59.00 to $47.00 in a research report on Monday, September 29th. BMO Capital Markets restated a “market perform” rating and issued a $55.00 price objective (up from $50.00) on shares of Novo Nordisk A/S in a research report on Tuesday, October 14th. Wall Street Zen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, 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 report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $76.00.

Novo Nordisk A/S Trading Up 2.6%

NVO stock opened at $55.78 on Tuesday. The company has a market capitalization of $249.04 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 2.50 and a beta of 0.68. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $117.96. The company’s 50 day moving average price is $56.36 and its two-hundred day moving average price is $62.64. 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 posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. The firm had revenue of $11.69 billion for the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. As a group, analysts predict 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. Shareholders of record on Monday, August 18th were paid 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 dividend payout ratio (DPR) is 22.53%.

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.