Argus Investors Counsel Inc. Buys 114 Shares of Novo Nordisk A/S (NYSE:NVO)

Argus Investors Counsel Inc. lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 3.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,104 shares of the company’s stock after acquiring an additional 114 shares during the period. Argus Investors Counsel Inc.’s holdings in Novo Nordisk A/S were worth $370,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in NVO. 1620 Investment Advisors Inc. bought a new stake in Novo Nordisk A/S during the 2nd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new stake in Novo Nordisk A/S during the 2nd quarter valued at approximately $25,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in Novo Nordisk A/S during the 1st quarter valued at approximately $26,000. Orion Capital Management LLC bought a new stake in Novo Nordisk A/S during the 1st quarter valued at approximately $26,000. Finally, Gilliland Jeter Wealth Management LLC raised its holdings in Novo Nordisk A/S by 200.0% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after acquiring an additional 120 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 0.8 %

NVO traded down $0.98 during mid-day trading on Tuesday, reaching $116.35. The stock had a trading volume of 2,660,021 shares, compared to its average volume of 4,280,233. The stock has a market capitalization of $522.12 billion, a P/E ratio of 40.02, a P/E/G ratio of 1.56 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. The firm’s fifty day simple moving average is $128.23 and its two-hundred day simple moving average is $131.67. Novo Nordisk A/S has a 52 week low of $92.94 and a 52 week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 34.86% and a return on equity of 87.43%. On average, equities analysts predict that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared 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 of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is currently 24.83%.

Analysts Set New Price Targets

NVO has been the subject of a number of recent research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday, October 10th. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets dropped their price target on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Novo Nordisk A/S has an average rating of “Moderate Buy” and an average target price of $144.50.

Novo Nordisk A/S 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.