Castle Rock Wealth Management LLC Boosts Holdings in Novo Nordisk A/S (NYSE:NVO)

Castle Rock Wealth Management LLC grew its holdings in Novo Nordisk A/S (NYSE:NVO) by 1.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,287 shares of the company’s stock after purchasing an additional 264 shares during the quarter. Castle Rock Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $2,043,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NVO. First PREMIER Bank purchased a new position in Novo Nordisk A/S in the first quarter worth approximately $25,000. 1620 Investment Advisors Inc. acquired a new stake in Novo Nordisk A/S during the second quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Novo Nordisk A/S during the second quarter worth approximately $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Novo Nordisk A/S during the first quarter worth approximately $26,000. Finally, Orion Capital Management LLC acquired a new stake in Novo Nordisk A/S during the first quarter worth approximately $26,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock traded up $2.62 during trading on Friday, reaching $120.15. The company’s stock had a trading volume of 2,100,970 shares, compared to its average volume of 4,315,110. The company has a 50-day moving average price of $129.54 and a two-hundred day moving average price of $132.06. The firm has a market cap of $539.18 billion, a PE ratio of 41.06, a P/E/G ratio of 1.53 and a beta of 0.42. Novo Nordisk A/S has a fifty-two week low of $92.94 and a fifty-two week high of $148.15. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The business had revenue of $9.82 billion during the quarter, compared to analyst estimates 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, analysts forecast that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were paid a $0.5126 dividend. The ex-dividend date was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is currently 24.66%.

Analysts Set New Price Targets

A number of analysts have weighed in on NVO shares. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday. BMO Capital Markets cut their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.17.

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.