Bank of Stockton Raises Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Bank of Stockton increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 22.8% in the third quarter, HoldingsChannel reports. The firm owned 7,652 shares of the company’s stock after buying an additional 1,420 shares during the period. Bank of Stockton’s holdings in Novo Nordisk A/S were worth $911,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in NVO. Wealthcare Advisory Partners LLC lifted its stake in shares of Novo Nordisk A/S by 38.9% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 14,253 shares of the company’s stock worth $1,830,000 after purchasing an additional 3,990 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Novo Nordisk A/S by 91.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 205,698 shares of the company’s stock worth $26,412,000 after acquiring an additional 98,007 shares during the period. 180 Wealth Advisors LLC grew its holdings in Novo Nordisk A/S by 3.5% in the first quarter. 180 Wealth Advisors LLC now owns 6,549 shares of the company’s stock valued at $841,000 after purchasing an additional 223 shares during the period. Capital Asset Advisory Services LLC grew its holdings in Novo Nordisk A/S by 59.6% in the first quarter. Capital Asset Advisory Services LLC now owns 3,402 shares of the company’s stock valued at $428,000 after purchasing an additional 1,271 shares during the period. Finally, Kathmere Capital Management LLC grew its holdings in Novo Nordisk A/S by 14.1% in the first quarter. Kathmere Capital Management LLC now owns 20,764 shares of the company’s stock valued at $2,666,000 after purchasing an additional 2,560 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Up 0.1 %

NVO stock traded up $0.13 during midday trading on Friday, hitting $114.05. 1,884,974 shares of the company’s stock were exchanged, compared to its average volume of 4,273,273. The business has a 50-day simple moving average of $127.04 and a two-hundred day simple moving average of $131.38. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $511.80 billion, a PE ratio of 39.02, a P/E/G ratio of 1.52 and a beta of 0.42. Novo Nordisk A/S has a 1-year low of $92.94 and a 1-year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted 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 business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. On average, sell-side analysts predict that Novo Nordisk A/S will post 3.01 EPS for the current fiscal 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 paid a dividend of $0.5126 per share. This represents a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s payout ratio is 24.66%.

Analysts Set New Price Targets

Several analysts have commented on NVO shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday, October 10th. BMO Capital Markets decreased their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $144.50.

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.