Fairfield Financial Advisors LTD Boosts Position in Novo Nordisk A/S (NYSE:NVO)

Fairfield Financial Advisors LTD boosted its position in Novo Nordisk A/S (NYSE:NVO) by 7.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 52,068 shares of the company’s stock after purchasing an additional 3,605 shares during the period. Novo Nordisk A/S comprises about 2.1% of Fairfield Financial Advisors LTD’s investment portfolio, making the stock its 14th biggest position. Fairfield Financial Advisors LTD’s holdings in Novo Nordisk A/S were worth $6,200,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Advisor OS LLC increased its position 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 worth $1,994,000 after buying an additional 82 shares in the last quarter. Cascade Financial Partners LLC increased its stake in Novo Nordisk A/S by 2.3% during the second quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock worth $543,000 after acquiring an additional 84 shares during the last quarter. Novare Capital Management LLC raised its position in Novo Nordisk A/S by 3.2% during the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after purchasing an additional 85 shares during the period. AA Financial Advisors LLC lifted its stake in shares of Novo Nordisk A/S by 3.2% in the 2nd quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock valued at $400,000 after purchasing an additional 86 shares during the last quarter. Finally, Steel Grove Capital Advisors LLC boosted its holdings in shares of Novo Nordisk A/S by 2.3% in the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock worth $541,000 after purchasing an additional 86 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Thursday, October 10th. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets dropped their price target 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. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Trading Down 1.9 %

NVO traded down $2.10 on Thursday, reaching $111.14. 4,922,601 shares of the company traded hands, compared to its average volume of 4,345,633. The company has a market cap of $498.74 billion, a P/E ratio of 38.04, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a one year low of $94.73 and a one year high of $148.15. The firm has a fifty day simple moving average of $125.25 and a two-hundred day simple moving average of $131.06.

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

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.