Blue Trust Inc. Has $2.70 Million Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Blue Trust Inc. lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 41.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,703 shares of the company’s stock after purchasing an additional 6,599 shares during the period. Blue Trust Inc.’s holdings in Novo Nordisk A/S were worth $2,703,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 1620 Investment Advisors Inc. bought a new stake in Novo Nordisk A/S during the second quarter worth $25,000. Gilliland Jeter Wealth Management LLC raised its holdings in shares of Novo Nordisk A/S by 200.0% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after purchasing an additional 120 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Novo Nordisk A/S in the 2nd quarter valued at about $25,000. First PREMIER Bank bought a new position in Novo Nordisk A/S during the first quarter worth about $25,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in Novo Nordisk A/S during the first quarter worth approximately $26,000. Institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO opened at $118.13 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The firm has a market cap of $530.11 billion, a price-to-earnings ratio of 40.46, a P/E/G ratio of 1.56 and a beta of 0.42. The stock’s fifty day moving average price is $128.48 and its two-hundred day moving average price is $131.65. Novo Nordisk A/S has a one year low of $92.94 and a one year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 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. On average, equities analysts forecast that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

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.