Brown Brothers Harriman & Co. Has $5.09 Million Position in Novo Nordisk A/S (NYSE:NVO)

Brown Brothers Harriman & Co. increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 52.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. acquired a new stake in shares of Novo Nordisk A/S during the second quarter valued at about $25,000. Gilliland Jeter Wealth Management LLC boosted its position in Novo Nordisk A/S by 200.0% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after buying an additional 120 shares during the period. First PREMIER Bank bought a new stake in Novo Nordisk A/S during the 1st quarter worth approximately $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Novo Nordisk A/S in the 1st quarter valued at approximately $26,000. Finally, Orion Capital Management LLC bought a new position in shares of Novo Nordisk A/S during the first quarter valued at $26,000. Institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on NVO. BMO Capital Markets cut their target price on 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target on the stock. Finally, Argus increased their price objective 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 analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $136.90 on Tuesday. The stock has a market capitalization of $614.34 billion, a price-to-earnings ratio of 47.21, a PEG ratio of 1.48 and a beta of 0.42. Novo Nordisk A/S has a 52-week low of $86.96 and a 52-week high of $148.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The stock’s 50 day moving average price is $133.90 and its two-hundred day moving average price is $133.14.

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

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given a $0.5126 dividend. This represents a yield of 0.7%. The ex-dividend date was Friday, August 16th. 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.