Milestone Asset Management LLC Invests $824,000 in Novo Nordisk A/S $NVO

Milestone Asset Management LLC bought a new stake in shares of Novo Nordisk A/S (NYSE:NVO) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 11,945 shares of the company’s stock, valued at approximately $824,000.

Several other large investors have also recently bought and sold shares of the stock. Stone House Investment Management LLC bought a new stake in Novo Nordisk A/S in the 1st quarter valued at $30,000. NewSquare Capital LLC increased its holdings in Novo Nordisk A/S by 174.1% in the 2nd quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock valued at $31,000 after buying an additional 282 shares during the period. Disciplina Capital Management LLC increased its holdings in Novo Nordisk A/S by 162.3% in the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock valued at $33,000 after buying an additional 297 shares during the period. Dagco Inc. bought a new stake in shares of Novo Nordisk A/S in the 1st quarter worth about $35,000. Finally, Mid American Wealth Advisory Group Inc. bought a new stake in shares of Novo Nordisk A/S in the 2nd quarter worth about $37,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. TD Cowen cut their target price on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, August 19th. BMO Capital Markets reissued a “market perform” rating and set a $55.00 target price (up from $50.00) on shares of Novo Nordisk A/S in a research note on Tuesday, October 14th. Berenberg Bank raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Wednesday, September 17th. Zacks Research raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Wall Street Zen cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $76.00.

Novo Nordisk A/S Trading Down 0.7%

Shares of Novo Nordisk A/S stock opened at $49.11 on Tuesday. The business has a fifty day simple moving average of $56.03 and a two-hundred day simple moving average of $61.85. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $112.52. The company has a market capitalization of $219.26 billion, a price-to-earnings ratio of 13.49, a P/E/G ratio of 2.33 and a beta of 0.68. 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 (NYSE:NVO) last posted its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping 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 company had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. Research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were given a $0.4119 dividend. This represents a yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S’s payout ratio is currently 22.53%.

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.