Valley Wealth Managers Inc. Has $73,000 Position in Novo Nordisk A/S (NYSE:NVO)

Valley Wealth Managers Inc. boosted its stake in Novo Nordisk A/S (NYSE:NVO) by 129.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 514 shares of the company’s stock after purchasing an additional 290 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Novo Nordisk A/S were worth $73,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisor OS LLC increased its position in Novo Nordisk A/S by 0.6% in the 2nd quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after buying an additional 82 shares in the last quarter. Cascade Financial Partners LLC raised its position in shares of Novo Nordisk A/S by 2.3% during the second quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock worth $543,000 after purchasing an additional 84 shares during the period. Cravens & Co Advisors LLC lifted its holdings in shares of Novo Nordisk A/S by 1.0% in the 1st quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock worth $1,059,000 after purchasing an additional 85 shares in the last quarter. AA Financial Advisors LLC grew its position in Novo Nordisk A/S by 3.2% in the 2nd quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock valued at $400,000 after purchasing an additional 86 shares during the period. Finally, Sage Rhino Capital LLC raised its holdings in Novo Nordisk A/S by 0.7% during the first quarter. Sage Rhino Capital LLC now owns 12,320 shares of the company’s stock worth $1,582,000 after buying an additional 89 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $137.00 on Friday. The stock has a 50 day moving average of $134.03 and a 200 day moving average of $132.87. The company has a market capitalization of $614.79 billion, a price-to-earnings ratio of 47.24, a PEG ratio of 1.48 and a beta of 0.42. Novo Nordisk A/S has a 12 month low of $86.96 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.

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). The business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. 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 company also recently announced 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 dividend yield of 0.7%. Novo Nordisk A/S’s payout ratio is presently 24.83%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. BMO Capital Markets reduced their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Monday, August 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday, September 9th. The Goldman Sachs Group began coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target for the company. Finally, Argus raised their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.