Barlow Wealth Partners Inc. Invests $8.44 Million in Novo Nordisk A/S (NYSE:NVO)

Barlow Wealth Partners Inc. purchased a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the third quarter, HoldingsChannel reports. The fund purchased 71,657 shares of the company’s stock, valued at approximately $8,439,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. True North Advisors LLC boosted its position in shares of Novo Nordisk A/S by 4.6% during the third quarter. True North Advisors LLC now owns 5,080 shares of the company’s stock worth $605,000 after purchasing an additional 225 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Novo Nordisk A/S during the third quarter worth $119,000. Gratus Wealth Advisors LLC boosted its position in shares of Novo Nordisk A/S by 69.0% during the third quarter. Gratus Wealth Advisors LLC now owns 3,693 shares of the company’s stock worth $435,000 after purchasing an additional 1,508 shares in the last quarter. Olistico Wealth LLC boosted its position in shares of Novo Nordisk A/S by 6.3% during the third quarter. Olistico Wealth LLC now owns 7,731 shares of the company’s stock worth $921,000 after purchasing an additional 460 shares in the last quarter. Finally, Park Place Capital Corp bought a new position in shares of Novo Nordisk A/S during the third quarter worth $119,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Down 1.1 %

Shares of NYSE:NVO traded down $1.34 during midday trading on Wednesday, reaching $115.86. 648,035 shares of the company were exchanged, compared to its average volume of 4,316,622. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a fifty-two week low of $91.90 and a fifty-two week high of $148.15. The stock has a fifty day simple moving average of $130.15 and a two-hundred day simple moving average of $132.27. The firm has a market cap of $519.93 billion, a PE ratio of 40.41, a P/E/G ratio of 1.35 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly 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 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 analyst estimates of $9.91 billion. As a group, sell-side 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 declared 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 currently 24.83%.

Wall Street Analysts Forecast Growth

NVO has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research 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 dropped 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 report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Novo Nordisk A/S currently has an average rating of “Moderate 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.