Forum Financial Management LP Purchases 286 Shares of Novo Nordisk A/S $NVO

Forum Financial Management LP grew its position in Novo Nordisk A/S (NYSE:NVO) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,027 shares of the company’s stock after acquiring an additional 286 shares during the period. Forum Financial Management LP’s holdings in Novo Nordisk A/S were worth $1,658,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Sterling Investment Management LLC bought a new position in shares of Novo Nordisk A/S in the second quarter valued at approximately $956,000. Exencial Wealth Advisors LLC raised its position in Novo Nordisk A/S by 5.2% in the 2nd quarter. Exencial Wealth Advisors LLC now owns 24,822 shares of the company’s stock worth $1,713,000 after purchasing an additional 1,221 shares during the last quarter. Brookstone Capital Management raised its position in Novo Nordisk A/S by 55.3% in the 2nd quarter. Brookstone Capital Management now owns 22,037 shares of the company’s stock worth $1,521,000 after purchasing an additional 7,848 shares during the last quarter. Cullen Frost Bankers Inc. raised its position in Novo Nordisk A/S by 0.9% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 117,889 shares of the company’s stock worth $8,137,000 after purchasing an additional 1,060 shares during the last quarter. Finally, DecisionMap Wealth Management LLC raised its position in Novo Nordisk A/S by 14.3% in the 2nd quarter. DecisionMap Wealth Management LLC now owns 8,418 shares of the company’s stock worth $581,000 after purchasing an additional 1,052 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

NVO has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Novo Nordisk A/S in a research report on Tuesday, October 14th. 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 dropped their price objective for the stock from $59.00 to $47.00 in a research report on Monday, September 29th. BNP Paribas upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 13th. 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 for the company in a research report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $76.00.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $53.37 on Thursday. The firm has a fifty day moving average of $56.51 and a two-hundred day moving average of $62.52. The stock has a market capitalization of $238.29 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 2.49 and a beta of 0.68. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $116.43. 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 issued its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. The company had revenue of $11.69 billion during the quarter, compared to analysts’ expectations 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, equities research analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were issued a $0.4119 dividend. 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 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.