71,657 Shares in Novo Nordisk A/S (NYSE:NVO) Purchased by Barlow Wealth Partners Inc.

Barlow Wealth Partners Inc. acquired a new position in shares of Novo Nordisk A/S (NYSE:NVO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 71,657 shares of the company’s stock, valued at approximately $8,439,000.

Several other hedge funds also recently modified their holdings of NVO. First PREMIER Bank acquired a new stake in shares of Novo Nordisk A/S during the first quarter worth approximately $25,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Novo Nordisk A/S during the second quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Novo Nordisk A/S during the second quarter worth approximately $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Novo Nordisk A/S during the first quarter worth approximately $26,000. Finally, Orion Capital Management LLC acquired a new stake in shares of Novo Nordisk A/S during the first quarter worth approximately $26,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NVO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Monday, September 16th. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, BMO Capital Markets lowered their price target on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. 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 currently has an average rating of “Moderate Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock traded down $1.34 during midday trading on Wednesday, reaching $115.86. The company had a trading volume of 648,035 shares, compared to its average volume of 4,316,622. Novo Nordisk A/S has a 1-year low of $91.90 and a 1-year high of $148.15. The company has a market capitalization of $519.93 billion, a price-to-earnings ratio of 40.41, a price-to-earnings-growth ratio of 1.35 and a beta of 0.42. 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 fifty day simple moving average of $130.15 and a 200 day simple moving average of $132.27.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data 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 business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. As a group, equities research analysts forecast that Novo Nordisk A/S will post 3.11 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. Shareholders of record on Friday, August 16th were paid a $0.5126 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s payout ratio is presently 24.83%.

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.