Tealwood Asset Management Inc. Purchases 116 Shares of Novo Nordisk A/S (NYSE:NVO)

Tealwood Asset Management Inc. grew its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 0.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,116 shares of the company’s stock after buying an additional 116 shares during the period. Tealwood Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $1,681,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of NVO. 1620 Investment Advisors Inc. bought a new stake in Novo Nordisk A/S during the second quarter worth about $25,000. Gilliland Jeter Wealth Management LLC lifted its holdings in shares of Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Novo Nordisk A/S in the 2nd quarter worth approximately $25,000. First PREMIER Bank purchased a new stake in shares of Novo Nordisk A/S in the 1st quarter worth approximately $25,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Novo Nordisk A/S in the 1st quarter worth approximately $26,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NYSE:NVO traded down $0.80 during mid-day trading on Tuesday, reaching $116.97. The company’s stock had a trading volume of 1,354,459 shares, compared to its average volume of 4,322,163. The firm’s fifty day moving average price is $130.39 and its two-hundred day moving average price is $132.35. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The stock has a market cap of $524.91 billion, a P/E ratio of 40.49, a PEG ratio of 1.35 and a beta of 0.42. Novo Nordisk A/S has a 12-month low of $90.50 and a 12-month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share 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 company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. On average, equities analysts forecast that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were issued 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 payout ratio is currently 24.83%.

Analyst Ratings Changes

NVO has been the topic of several analyst reports. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Monday, September 16th. BMO Capital Markets cut their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Argus lifted their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $145.17.

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.