Busey Bank Purchases 1,895 Shares of Novo Nordisk A/S (NYSE:NVO)

Busey Bank increased its holdings in Novo Nordisk A/S (NYSE:NVO) by 3.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 51,054 shares of the company’s stock after buying an additional 1,895 shares during the period. Busey Bank’s holdings in Novo Nordisk A/S were worth $6,079,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NVO. Harbour Trust & Investment Management Co grew its position in Novo Nordisk A/S by 4.7% in the third quarter. Harbour Trust & Investment Management Co now owns 99,797 shares of the company’s stock worth $11,883,000 after acquiring an additional 4,444 shares in the last quarter. Tectonic Advisors LLC lifted its stake in shares of Novo Nordisk A/S by 6.6% in the 3rd quarter. Tectonic Advisors LLC now owns 5,512 shares of the company’s stock valued at $656,000 after purchasing an additional 340 shares during the last quarter. Mason & Associates Inc purchased a new position in shares of Novo Nordisk A/S in the 3rd quarter worth approximately $245,000. Hennion & Walsh Asset Management Inc. increased its position in shares of Novo Nordisk A/S by 105.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 18,041 shares of the company’s stock valued at $2,148,000 after purchasing an additional 9,272 shares during the last quarter. Finally, JCIC Asset Management Inc. raised its holdings in Novo Nordisk A/S by 0.6% during the 3rd quarter. JCIC Asset Management Inc. now owns 36,542 shares of the company’s stock valued at $4,351,000 after buying an additional 213 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NVO. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. BMO Capital Markets decreased their price objective on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $113.94 on Friday. 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 price is $127.52 and its 200 day moving average price is $131.50. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a market cap of $511.31 billion, a P/E ratio of 39.02, a P/E/G ratio of 1.52 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results 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). The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. On average, sell-side analysts expect that Novo Nordisk A/S will post 3.01 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were paid 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 presently 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.