Obermeyer Wood Investment Counsel Lllp Has $15.51 Million Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Obermeyer Wood Investment Counsel Lllp grew its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 451.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,678 shares of the company’s stock after buying an additional 88,976 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in Novo Nordisk A/S were worth $15,513,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NVO. First PREMIER Bank bought a new position in shares of Novo Nordisk A/S in the first quarter valued at approximately $25,000. 1620 Investment Advisors Inc. purchased a new position in Novo Nordisk A/S during the 2nd quarter worth $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Novo Nordisk A/S in the first quarter valued at about $26,000. Orion Capital Management LLC bought a new position in shares of Novo Nordisk A/S during the first quarter valued at about $26,000. Finally, Gilliland Jeter Wealth Management LLC boosted its holdings in Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO traded up $1.64 on Friday, hitting $139.16. The company’s stock had a trading volume of 2,718,338 shares, compared to its average volume of 4,187,164. Novo Nordisk A/S has a 1 year low of $86.96 and a 1 year 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 company has a market capitalization of $624.48 billion, a PE ratio of 47.99, a PEG ratio of 1.52 and a beta of 0.41. The company has a 50-day simple moving average of $135.76 and a 200 day simple moving average of $132.15.

Novo Nordisk A/S (NYSE:NVO) last released 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 return on equity of 87.43% and a net margin of 34.86%. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. Sell-side analysts forecast that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NVO shares. Argus lifted their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Monday, August 19th. 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, The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price on the stock. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average price target of $145.17.

Novo Nordisk A/S Company 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.