Marotta Asset Management Has $1.98 Million Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Marotta Asset Management reduced its position in shares of Novo Nordisk A/S (NYSE:NVO) by 1.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,653 shares of the company’s stock after selling 272 shares during the quarter. Marotta Asset Management’s holdings in Novo Nordisk A/S were worth $1,983,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. First PREMIER Bank bought a new stake in shares of Novo Nordisk A/S during the 1st quarter worth $25,000. 1620 Investment Advisors Inc. bought a new position in Novo Nordisk A/S in the 2nd quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL bought a new stake in Novo Nordisk A/S during the 2nd quarter valued at $25,000. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Novo Nordisk A/S in the first quarter worth $26,000. Finally, Orion Capital Management LLC purchased a new position in shares of Novo Nordisk A/S in the first quarter valued at $26,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NVO. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Argus upped 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, September 16th. Finally, BMO Capital Markets reduced 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 research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Trading Down 1.2 %

Shares of Novo Nordisk A/S stock opened at $115.11 on Friday. The company has a 50 day simple moving average of $130.83 and a two-hundred day simple moving average of $132.54. The firm has a market cap of $516.56 billion, a PE ratio of 39.69, a PEG ratio of 1.35 and a beta of 0.42. Novo Nordisk A/S has a 1 year low of $87.02 and a 1 year high of $148.15. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. Analysts expect that Novo Nordisk A/S will post 3.11 earnings per share 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 dividend of $0.5126 per share. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is 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.