Brighton Jones LLC Raises Stake in Novo Nordisk A/S (NYSE:NVO)

Brighton Jones LLC lifted its position in Novo Nordisk A/S (NYSE:NVO) by 4.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,176 shares of the company’s stock after purchasing an additional 606 shares during the period. Brighton Jones LLC’s holdings in Novo Nordisk A/S were worth $1,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. YHB Investment Advisors Inc. grew its position in shares of Novo Nordisk A/S by 11.3% during the third quarter. YHB Investment Advisors Inc. now owns 3,284 shares of the company’s stock worth $391,000 after purchasing an additional 334 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Novo Nordisk A/S by 10,608.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after buying an additional 1,796,635 shares in the last quarter. MFA Wealth Advisors LLC raised its position in shares of Novo Nordisk A/S by 184.4% during the third quarter. MFA Wealth Advisors LLC now owns 728 shares of the company’s stock valued at $87,000 after buying an additional 472 shares during the last quarter. Lazari Capital Management Inc. lifted its holdings in shares of Novo Nordisk A/S by 13.9% in the third quarter. Lazari Capital Management Inc. now owns 1,928 shares of the company’s stock worth $230,000 after buying an additional 236 shares in the last quarter. Finally, Global X Japan Co. Ltd. boosted its position in shares of Novo Nordisk A/S by 10.6% during the third quarter. Global X Japan Co. Ltd. now owns 15,780 shares of the company’s stock worth $1,879,000 after acquiring an additional 1,516 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $113.94 on Friday. The company has a market cap of $511.31 billion, a P/E ratio of 39.02, a P/E/G ratio of 1.52 and a beta of 0.42. The business’s 50 day moving average price is $127.52 and its 200-day moving average price is $131.50. Novo Nordisk A/S has a fifty-two week low of $92.94 and a fifty-two week high of $148.15. 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 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 during the quarter, compared to analysts’ expectations of $9.91 billion. Sell-side analysts predict that Novo Nordisk A/S will post 3.01 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were given a dividend of $0.5126 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.66%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Thursday, October 10th. StockNews.com downgraded 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 dropped their price target on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and an average target price of $144.50.

Novo Nordisk A/S 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.