Hardman Johnston Global Advisors LLC Raises Position in Novo Nordisk A/S $NVO

Hardman Johnston Global Advisors LLC raised its holdings in Novo Nordisk A/S (NYSE:NVO) by 33.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 149,855 shares of the company’s stock after buying an additional 37,199 shares during the period. Hardman Johnston Global Advisors LLC’s holdings in Novo Nordisk A/S were worth $10,343,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVO. Revolve Wealth Partners LLC boosted its position in Novo Nordisk A/S by 8.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock valued at $214,000 after buying an additional 200 shares during the period. Rhumbline Advisers lifted its position in shares of Novo Nordisk A/S by 10.2% during the 1st quarter. Rhumbline Advisers now owns 63,539 shares of the company’s stock worth $4,412,000 after purchasing an additional 5,898 shares during the last quarter. NBC Securities Inc. lifted its position in shares of Novo Nordisk A/S by 79,440.0% during the 1st quarter. NBC Securities Inc. now owns 7,954 shares of the company’s stock worth $552,000 after purchasing an additional 7,944 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Novo Nordisk A/S by 1.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 20,032 shares of the company’s stock worth $1,391,000 after purchasing an additional 290 shares during the last quarter. Finally, Lifestyle Asset Management Inc. purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter worth $201,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $58.77 on Friday. The company’s fifty day moving average price is $55.16 and its 200 day moving average price is $63.98. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $120.56. 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 firm has a market capitalization of $262.42 billion, a P/E ratio of 16.15, a P/E/G ratio of 2.27 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last announced 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 analyst estimates 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, sell-side 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 disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were paid a $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s payout ratio is currently 22.53%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NVO. Zacks Research raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Monday. UBS Group cut shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 5th. Berenberg Bank raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. Dbs Bank raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, August 22nd. Finally, Rothschild Redb raised shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.