Blue Trust Inc. Has $2.70 Million Position in Novo Nordisk A/S (NYSE:NVO)

Blue Trust Inc. increased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 41.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,703 shares of the company’s stock after acquiring an additional 6,599 shares during the period. Blue Trust Inc.’s holdings in Novo Nordisk A/S were worth $2,703,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. SageView Advisory Group LLC bought a new stake in shares of Novo Nordisk A/S during the 4th quarter worth $271,000. Alaska Permanent Fund Corp bought a new position in shares of Novo Nordisk A/S in the first quarter worth about $396,000. Banque Cantonale Vaudoise lifted its holdings in shares of Novo Nordisk A/S by 1,446.2% in the first quarter. Banque Cantonale Vaudoise now owns 10,267 shares of the company’s stock worth $1,319,000 after acquiring an additional 9,603 shares during the last quarter. RFG Advisory LLC grew its holdings in shares of Novo Nordisk A/S by 81.9% during the 1st quarter. RFG Advisory LLC now owns 10,742 shares of the company’s stock valued at $1,379,000 after purchasing an additional 4,835 shares during the last quarter. Finally, &PARTNERS bought a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at approximately $783,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $118.13 on Friday. The business has a 50-day moving average of $128.48 and a 200-day moving average of $131.65. Novo Nordisk A/S has a 1 year low of $92.94 and a 1 year high of $148.15. The company has a market capitalization of $530.11 billion, a price-to-earnings ratio of 40.46, a price-to-earnings-growth ratio of 1.56 and a beta of 0.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly 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). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. As a group, equities research analysts anticipate 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 disclosed a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were given a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.66%.

Analyst Ratings Changes

A number of brokerages have weighed in on NVO. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets lowered their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Cantor Fitzgerald reissued 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. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $144.50.

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.