Novo Nordisk A/S (NYSE:NVO) Shares Bought by Argus Investors Counsel Inc.

Argus Investors Counsel Inc. raised its position in Novo Nordisk A/S (NYSE:NVO) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,104 shares of the company’s stock after acquiring an additional 114 shares during the quarter. Argus Investors Counsel Inc.’s holdings in Novo Nordisk A/S were worth $370,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Advisor OS LLC lifted its stake in Novo Nordisk A/S by 0.6% in the second quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after buying an additional 82 shares during the last quarter. Cascade Financial Partners LLC lifted its stake in Novo Nordisk A/S by 2.3% in the second quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock valued at $543,000 after buying an additional 84 shares during the last quarter. Novare Capital Management LLC lifted its stake in Novo Nordisk A/S by 3.2% in the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after buying an additional 85 shares during the last quarter. AA Financial Advisors LLC lifted its stake in Novo Nordisk A/S by 3.2% in the second quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock valued at $400,000 after buying an additional 86 shares during the last quarter. Finally, Steel Grove Capital Advisors LLC lifted its stake in Novo Nordisk A/S by 2.3% in the second quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock valued at $541,000 after buying an additional 86 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NVO. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets decreased 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 equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $144.50.

Novo Nordisk A/S Price Performance

NYSE:NVO traded down $0.98 during trading hours on Tuesday, hitting $116.35. The company’s stock had a trading volume of 2,660,021 shares, compared to its average volume of 4,280,233. The business’s 50-day moving average is $128.23 and its two-hundred day moving average is $131.67. The company has a market capitalization of $522.12 billion, a PE ratio of 40.02, a PEG 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. 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 posted 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 business had revenue of $9.82 billion for 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%. As a group, research analysts anticipate that Novo Nordisk A/S will post 3.01 EPS for the current fiscal 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 paid a dividend of $0.5126 per share. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

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.