Burford Brothers Inc. Sells 202 Shares of Novo Nordisk A/S (NYSE:NVO)

Burford Brothers Inc. decreased its position in Novo Nordisk A/S (NYSE:NVO) by 2.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,101 shares of the company’s stock after selling 202 shares during the quarter. Burford Brothers Inc.’s holdings in Novo Nordisk A/S were worth $1,203,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. 1620 Investment Advisors Inc. purchased a new position in Novo Nordisk A/S during 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 worth approximately $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Novo Nordisk A/S during the first quarter valued at approximately $26,000. Orion Capital Management LLC bought a new position in shares of Novo Nordisk A/S during the first quarter valued at approximately $26,000. Finally, Gilliland Jeter Wealth Management LLC lifted its stake in Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after acquiring an additional 120 shares during the period. 11.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on NVO shares. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, BMO Capital Markets lowered their price objective on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Novo Nordisk A/S has an average rating of “Moderate Buy” and an average price target of $144.50.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $113.37 on Friday. Novo Nordisk A/S has a fifty-two week low of $92.94 and a fifty-two week high of $148.15. The firm’s 50-day simple moving average is $126.61 and its two-hundred day simple moving average is $131.28. The stock has a market cap of $508.75 billion, a PE ratio of 39.09, a price-to-earnings-growth ratio of 1.52 and a beta of 0.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94.

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). The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. Analysts anticipate that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared 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 is presently 24.83%.

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.