Iams Wealth Management LLC Purchases 1,144 Shares of Novo Nordisk A/S (NYSE:NVO)

Iams Wealth Management LLC lifted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 7.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,003 shares of the company’s stock after purchasing an additional 1,144 shares during the quarter. Novo Nordisk A/S accounts for 1.0% of Iams Wealth Management LLC’s portfolio, making the stock its 29th largest position. Iams Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $2,025,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NVO. Advisor OS LLC lifted its position in Novo Nordisk A/S by 0.6% in the 2nd quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after acquiring an additional 82 shares in the last quarter. Cascade Financial Partners LLC lifted its holdings in shares of Novo Nordisk A/S by 2.3% in the second quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock valued at $543,000 after purchasing an additional 84 shares in the last quarter. Novare Capital Management LLC boosted its position in shares of Novo Nordisk A/S by 3.2% during the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock worth $325,000 after buying an additional 85 shares during the period. AA Financial Advisors LLC grew its holdings in shares of Novo Nordisk A/S by 3.2% during the second quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock worth $400,000 after buying an additional 86 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC raised its position in Novo Nordisk A/S by 2.3% in the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock valued at $541,000 after buying an additional 86 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $119.77 on Tuesday. 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 company’s fifty day simple moving average is $129.26 and its 200 day simple moving average is $131.98. Novo Nordisk A/S has a 1-year low of $92.94 and a 1-year high of $148.15. The company has a market cap of $537.47 billion, a price-to-earnings ratio of 41.30, a PEG ratio of 1.53 and a beta of 0.42.

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 return on equity of 87.43% and a net margin of 34.86%. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. On average, research analysts forecast that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Upgrades and Downgrades

NVO has been the subject of a number of recent research reports. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. Finally, 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 note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and a consensus target price 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.