NorthCrest Asset Manangement LLC Has $1.55 Million Position in Novo Nordisk A/S (NYSE:NVO)

NorthCrest Asset Manangement LLC increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,837 shares of the company’s stock after buying an additional 232 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Novo Nordisk A/S were worth $1,547,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. First PREMIER Bank acquired a new stake in shares of Novo Nordisk A/S in the first quarter valued at approximately $25,000. CNB Bank acquired a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at approximately $26,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Novo Nordisk A/S in the first quarter valued at approximately $26,000. Orion Capital Management LLC acquired a new position in Novo Nordisk A/S during the first quarter valued at approximately $26,000. Finally, Frank Rimerman Advisors LLC acquired a new position in Novo Nordisk A/S during the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 0.6 %

Shares of NVO traded up $0.79 during trading hours on Wednesday, hitting $134.36. 834,835 shares of the stock were exchanged, compared to its average volume of 4,515,836. Novo Nordisk A/S has a fifty-two week low of $86.96 and a fifty-two week high of $148.15. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. The business has a 50-day moving average of $137.29 and a 200-day moving average of $130.46. The firm has a market capitalization of $602.94 billion, a P/E ratio of 46.04, a price-to-earnings-growth ratio of 1.33 and a beta of 0.41.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 16th will be issued a $0.5126 dividend. This represents a yield of 0.7%. The ex-dividend date is Friday, August 16th. Novo Nordisk A/S’s payout ratio is 25.52%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NVO. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, August 5th. BMO Capital Markets reduced their target price 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. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price target for the company. Finally, Argus increased their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $145.17.

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.