Northwestern Mutual Wealth Management Co. Has $64.02 Million Stock Position in Novo Nordisk A/S (NYSE:NVO)

Northwestern Mutual Wealth Management Co. grew its position in Novo Nordisk A/S (NYSE:NVO) by 5.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 448,510 shares of the company’s stock after buying an additional 24,646 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Novo Nordisk A/S were worth $64,024,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New Hampshire boosted its stake in shares of Novo Nordisk A/S by 1,356.8% during the 1st quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock worth $1,702,000 after buying an additional 12,347 shares during the last quarter. Cim LLC bought a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at about $23,547,000. Burford Brothers Inc. bought a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at about $1,045,000. Mark Asset Management LP bought a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at about $1,035,000. Finally, Fox Hill Wealth Management raised its holdings in Novo Nordisk A/S by 121.3% in the 1st quarter. Fox Hill Wealth Management now owns 28,320 shares of the company’s stock valued at $3,636,000 after acquiring an additional 15,525 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. 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 report on Thursday, August 8th. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 18th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, September 16th. Finally, Argus increased 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 research report on Monday, June 10th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S has an average rating of “Buy” and an average price target of $145.17.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $120.76 on Monday. Novo Nordisk A/S has a fifty-two week low of $86.96 and a fifty-two week high of $148.15. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The firm has a market capitalization of $541.91 billion, a P/E ratio of 41.64, a P/E/G ratio of 1.35 and a beta of 0.42. The company’s 50 day moving average price is $131.97 and its two-hundred day moving average price is $132.98.

Novo Nordisk A/S (NYSE:NVO) last issued its 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 company had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. On average, equities analysts forecast that Novo Nordisk A/S will post 3.11 earnings per share 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 dividend of $0.5126 per share. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s payout ratio is currently 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.