Harbour Trust & Investment Management Co Raises Position in Novo Nordisk A/S (NYSE:NVO)

Harbour Trust & Investment Management Co increased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 4.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 99,797 shares of the company’s stock after purchasing an additional 4,444 shares during the period. Novo Nordisk A/S comprises approximately 1.4% of Harbour Trust & Investment Management Co’s holdings, making the stock its 21st largest position. Harbour Trust & Investment Management Co’s holdings in Novo Nordisk A/S were worth $11,883,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. acquired a new stake in shares of Novo Nordisk A/S in the 2nd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new position in Novo Nordisk A/S in the second quarter worth $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Novo Nordisk A/S in the first quarter valued at $26,000. Orion Capital Management LLC purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter worth $26,000. Finally, Gilliland Jeter Wealth Management LLC grew its stake in shares of Novo Nordisk A/S by 200.0% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO opened at $113.94 on Friday. Novo Nordisk A/S has a 12-month low of $92.94 and a 12-month high of $148.15. 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 company has a market cap of $511.31 billion, a PE ratio of 39.02, a P/E/G ratio of 1.52 and a beta of 0.42. The stock has a 50 day simple moving average of $127.52 and a 200-day simple moving average of $131.50.

Novo Nordisk A/S (NYSE:NVO) last announced its 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 net margin of 34.86% and a return on equity of 87.43%. The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. On average, equities research analysts forecast that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently announced 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 was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 24.66%.

Analyst Ratings Changes

A number of research firms have recently issued reports on NVO. BMO Capital Markets reduced 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 report on Thursday, October 17th. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, Cantor Fitzgerald reaffirmed 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 equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and an average target price of $144.50.

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.