Watts Gwilliam & Co. LLC Purchases New Position in Novo Nordisk A/S (NYSE:NVO)

Watts Gwilliam & Co. LLC purchased a new stake in Novo Nordisk A/S (NYSE:NVO) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 12,994 shares of the company’s stock, valued at approximately $1,523,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 1620 Investment Advisors Inc. acquired a new stake in Novo Nordisk A/S in the 2nd quarter worth about $25,000. Gilliland Jeter Wealth Management LLC boosted its holdings in shares of Novo Nordisk A/S by 200.0% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $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 approximately $25,000. First PREMIER Bank acquired a new position in shares of Novo Nordisk A/S during the 1st quarter worth approximately $25,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Novo Nordisk A/S during the 1st quarter worth approximately $26,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NVO shares. BMO Capital Markets decreased their price objective on 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. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Stock Up 0.5 %

Shares of NYSE NVO opened at $117.57 on Friday. The firm has a market cap of $527.60 billion, a price-to-earnings ratio of 40.26, a PEG ratio of 1.53 and a beta of 0.42. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a 52-week low of $92.94 and a 52-week high of $148.15. The business’s 50 day moving average is $129.54 and its two-hundred day moving average is $132.06.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Research 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 disclosed a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were given a dividend of $0.5126 per share. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is currently 24.66%.

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.