Van ECK Associates Corp Raises Position in Novo Nordisk A/S (NYSE:NVO)

Van ECK Associates Corp boosted its position in Novo Nordisk A/S (NYSE:NVO) by 15.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 492,467 shares of the company’s stock after purchasing an additional 64,635 shares during the period. Van ECK Associates Corp’s holdings in Novo Nordisk A/S were worth $56,998,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. acquired a new stake in shares of Novo Nordisk A/S in the 2nd quarter worth approximately $25,000. Gilliland Jeter Wealth Management LLC grew its holdings in Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Novo Nordisk A/S during the 2nd quarter worth $25,000. Orion Capital Management LLC purchased a new stake in shares of Novo Nordisk A/S in the 1st quarter worth about $26,000. Finally, Halpern Financial Inc. grew its stake in Novo Nordisk A/S by 113.0% in the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after acquiring an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 0.0 %

NVO stock opened at $111.94 on Monday. Novo Nordisk A/S has a 52 week low of $94.73 and a 52 week high of $148.15. The company has a market cap of $502.33 billion, a price-to-earnings ratio of 38.34, a PEG ratio of 1.46 and a beta of 0.43. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $124.25 and a 200-day simple moving average of $130.94.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. On average, equities research analysts expect that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were issued a dividend of $0.5126 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s payout ratio is 24.66%.

Analyst Ratings Changes

Several brokerages have issued reports on NVO. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Thursday, October 10th. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday. Finally, BMO Capital Markets reduced their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average 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.