Brown Brothers Harriman & Co. Acquires 12,257 Shares of Novo Nordisk A/S (NYSE:NVO)

Brown Brothers Harriman & Co. grew its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 52.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,679 shares of the company’s stock after purchasing an additional 12,257 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Novo Nordisk A/S were worth $5,093,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Folketrygdfondet raised its stake in Novo Nordisk A/S by 1.4% in the 1st quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock valued at $1,124,275,000 after acquiring an additional 124,770 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Novo Nordisk A/S by 10.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after acquiring an additional 823,036 shares during the period. Capital International Investors lifted its position in Novo Nordisk A/S by 22.3% during the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after acquiring an additional 1,297,536 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Novo Nordisk A/S by 1.4% during the second quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock worth $607,242,000 after acquiring an additional 58,935 shares during the period. Finally, GQG Partners LLC grew its position in shares of Novo Nordisk A/S by 654.6% in the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after purchasing an additional 3,151,584 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Trading Down 0.1 %

NVO opened at $136.90 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a twelve month low of $86.96 and a twelve month high of $148.15. The stock has a market capitalization of $614.34 billion, a price-to-earnings ratio of 47.21, a P/E/G ratio of 1.48 and a beta of 0.42. The company has a 50-day simple moving average of $133.90 and a 200 day simple moving average of $133.14.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. Analysts predict that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were paid a $0.5126 dividend. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s payout ratio is 24.83%.

Wall Street Analyst Weigh In

NVO has been the subject of several recent research reports. The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday. BMO Capital Markets lowered their price target on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Monday, August 19th. Finally, Argus raised their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $145.17.

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.