Rothschild Investment LLC Invests $11.97 Million in Novo Nordisk A/S (NYSE:NVO)

Rothschild Investment LLC purchased a new stake in Novo Nordisk A/S (NYSE:NVO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 83,844 shares of the company’s stock, valued at approximately $11,968,000. Novo Nordisk A/S makes up about 0.8% of Rothschild Investment LLC’s portfolio, making the stock its 28th biggest holding.

A number of other hedge funds have also added to or reduced their stakes in the stock. Choreo LLC boosted its position in shares of Novo Nordisk A/S by 6.7% during the fourth quarter. Choreo LLC now owns 3,108 shares of the company’s stock valued at $322,000 after buying an additional 194 shares during the last quarter. Certuity LLC bought a new position in Novo Nordisk A/S during the 4th quarter valued at $257,000. Pekin Hardy Strauss Inc. purchased a new position in Novo Nordisk A/S during the 4th quarter worth $265,000. Brighton Jones LLC grew its stake in shares of Novo Nordisk A/S by 6.9% in the 4th quarter. Brighton Jones LLC now owns 7,811 shares of the company’s stock worth $808,000 after acquiring an additional 501 shares in the last quarter. Finally, Essex Financial Services Inc. raised its holdings in shares of Novo Nordisk A/S by 19.8% in the fourth quarter. Essex Financial Services Inc. now owns 8,269 shares of the company’s stock valued at $856,000 after purchasing an additional 1,366 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

NVO has been the topic of several analyst reports. Argus boosted their price target 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. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, August 19th. BMO Capital Markets decreased their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target on the stock. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $139.16 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $135.76 and a two-hundred day simple moving average of $132.06. Novo Nordisk A/S has a 1-year low of $86.96 and a 1-year high of $148.15. The firm has a market cap of $624.48 billion, a price-to-earnings ratio of 47.99, a price-to-earnings-growth ratio of 1.52 and a beta of 0.41.

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

Novo Nordisk A/S Cuts Dividend

The firm also recently announced 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%.

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.