NorthCrest Asset Manangement LLC Buys 331 Shares of Novo Nordisk A/S (NYSE:NVO)

NorthCrest Asset Manangement LLC grew its position in shares of Novo Nordisk A/S (NYSE:NVO) by 3.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,168 shares of the company’s stock after purchasing an additional 331 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Novo Nordisk A/S were worth $1,330,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. OneAscent Financial Services LLC lifted its stake in Novo Nordisk A/S by 11.9% during the first quarter. OneAscent Financial Services LLC now owns 3,779 shares of the company’s stock worth $487,000 after purchasing an additional 401 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Novo Nordisk A/S in the first quarter worth about $849,000. Symphony Financial Ltd. Co. purchased a new position in shares of Novo Nordisk A/S during the first quarter valued at approximately $242,000. Founders Financial Securities LLC bought a new position in Novo Nordisk A/S in the 1st quarter worth $217,000. Finally, Fiduciary Alliance LLC bought a new position in Novo Nordisk A/S in the first quarter worth about $839,000. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Down 0.5 %

Shares of NYSE:NVO opened at $113.38 on Friday. Novo Nordisk A/S has a 1 year low of $92.94 and a 1 year high of $148.15. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The firm has a market capitalization of $508.80 billion, a PE ratio of 39.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.42. The business has a 50 day simple moving average of $126.61 and a two-hundred day simple moving average of $131.32.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.06). The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations 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 firm 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. The ex-dividend date of this dividend was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 24.83%.

Analysts Set New Price Targets

Several brokerages recently issued reports on NVO. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets lowered their price target on 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. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, 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.