Freestone Capital Holdings LLC Raises Stock Holdings in Novo Nordisk A/S $NVO

Freestone Capital Holdings LLC lifted its stake in Novo Nordisk A/S (NYSE:NVO) by 8.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,104 shares of the company’s stock after buying an additional 1,855 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Novo Nordisk A/S were worth $1,664,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Jennison Associates LLC raised its stake in Novo Nordisk A/S by 0.3% during the 2nd quarter. Jennison Associates LLC now owns 18,885,343 shares of the company’s stock worth $1,303,466,000 after acquiring an additional 63,341 shares during the period. Kingstone Capital Partners Texas LLC raised its position in shares of Novo Nordisk A/S by 301,443.6% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock valued at $690,560,000 after purchasing an additional 10,001,898 shares during the period. Folketrygdfondet lifted its stake in shares of Novo Nordisk A/S by 6.9% during the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company’s stock valued at $661,202,000 after buying an additional 617,974 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Novo Nordisk A/S by 11.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company’s stock valued at $395,291,000 after buying an additional 576,900 shares in the last quarter. Finally, Sustainable Growth Advisers LP boosted its holdings in Novo Nordisk A/S by 3.8% in the 1st quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company’s stock worth $384,923,000 after buying an additional 202,443 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $49.11 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $112.52. The business has a 50 day simple moving average of $56.03 and a two-hundred day simple moving average of $61.85. The stock has a market capitalization of $219.26 billion, a PE ratio of 13.49, a P/E/G ratio of 2.33 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. On average, research analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were given 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 (DPR) is 22.53%.

Analysts Set New Price Targets

NVO has been the topic of a number of recent analyst reports. UBS Group cut Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a report on Tuesday, August 5th. Barclays reissued an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Sanford C. Bernstein upgraded Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. HSBC set a $70.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, October 1st. Finally, Wall Street Zen downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Hold” and a consensus price target of $76.00.

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.