HCR Wealth Advisors Grows Position in Novo Nordisk A/S (NYSE:NVO)

HCR Wealth Advisors increased its position in Novo Nordisk A/S (NYSE:NVO) by 37.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,954 shares of the company’s stock after buying an additional 3,227 shares during the quarter. HCR Wealth Advisors’ holdings in Novo Nordisk A/S were worth $1,423,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVO. Optimist Retirement Group LLC purchased a new position in Novo Nordisk A/S during the 4th quarter valued at about $233,000. PCA Investment Advisory Services Inc. bought a new position in Novo Nordisk A/S in the 4th quarter worth $210,000. Burford Brothers Inc. purchased a new stake in shares of Novo Nordisk A/S in the 4th quarter worth about $1,045,000. Sunpointe LLC bought a new stake in shares of Novo Nordisk A/S during the 4th quarter valued at about $661,000. Finally, Prospect Financial Services LLC bought a new position in Novo Nordisk A/S in the fourth quarter worth about $242,000. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Up 2.1 %

Shares of NVO traded up $2.51 during trading hours on Friday, hitting $120.04. The company had a trading volume of 4,115,753 shares, compared to its average volume of 4,325,323. Novo Nordisk A/S has a 52-week low of $92.94 and a 52-week high of $148.15. The firm has a fifty day moving average price of $129.39 and a 200-day moving average price of $132.00. The stock has a market capitalization of $538.68 billion, a price-to-earnings ratio of 41.11, a P/E/G ratio of 1.53 and a beta of 0.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94.

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). The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. On average, equities research analysts forecast that Novo Nordisk A/S will post 3.01 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Shareholders 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 dividend payout ratio (DPR) is 24.66%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NVO. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, BMO Capital Markets dropped their target price 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. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and a consensus price target of $145.17.

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.