Weaver Capital Management LLC Raises Holdings in Novo Nordisk A/S (NYSE:NVO)

Weaver Capital Management LLC increased its position in Novo Nordisk A/S (NYSE:NVO) by 15.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,298 shares of the company’s stock after buying an additional 305 shares during the period. Weaver Capital Management LLC’s holdings in Novo Nordisk A/S were worth $274,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVO. 1620 Investment Advisors Inc. bought a new position in shares of Novo Nordisk A/S during the 2nd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new position in Novo Nordisk A/S during the second quarter valued at $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Novo Nordisk A/S in the 1st quarter worth $26,000. Orion Capital Management LLC bought a new stake in shares of Novo Nordisk A/S in the 1st quarter worth about $26,000. Finally, Gilliland Jeter Wealth Management LLC lifted its holdings in shares of Novo Nordisk A/S by 200.0% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after acquiring an additional 120 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NVO has been the topic of several analyst reports. BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report 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. According to MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and an average target price of $144.50.

Novo Nordisk A/S Price Performance

Shares of NVO stock opened at $115.70 on Thursday. The stock has a 50 day moving average price of $127.52 and a 200 day moving average price of $131.50. Novo Nordisk A/S has a 52-week low of $92.94 and a 52-week high of $148.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The firm has a market capitalization of $519.21 billion, a P/E ratio of 39.62, a P/E/G ratio of 1.54 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The company 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%. As a group, sell-side analysts predict that Novo Nordisk A/S will post 3.01 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced 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 (DPR) is presently 24.66%.

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.