Revolve Wealth Partners LLC Takes Position in Novo Nordisk A/S (NYSE:NVO)

Revolve Wealth Partners LLC bought a new stake in Novo Nordisk A/S (NYSE:NVO) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,290 shares of the company’s stock, valued at approximately $273,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of NVO. First PREMIER Bank bought a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at about $25,000. 1620 Investment Advisors Inc. bought a new stake in shares of Novo Nordisk A/S in the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Novo Nordisk A/S in the 2nd quarter valued at about $25,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at about $26,000. Finally, Orion Capital Management LLC bought a new position in Novo Nordisk A/S during the 1st quarter valued at approximately $26,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $118.09 on Friday. 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 company has a market capitalization of $529.93 billion, a P/E ratio of 40.44, a PEG ratio of 1.56 and a beta of 0.42. The stock’s 50 day moving average is $128.48 and its 200 day moving average is $131.69. Novo Nordisk A/S has a twelve month low of $92.94 and a twelve month 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). 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 during the quarter, compared to analysts’ expectations of $9.91 billion. On average, equities research analysts predict that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were paid a dividend of $0.5126 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is 24.66%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NVO. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets decreased their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday. 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, October 10th. One research 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.

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.