Lazari Capital Management Inc. Purchases 236 Shares of Novo Nordisk A/S (NYSE:NVO)

Lazari Capital Management Inc. lifted its holdings in Novo Nordisk A/S (NYSE:NVO) by 13.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,928 shares of the company’s stock after purchasing an additional 236 shares during the period. Lazari Capital Management Inc.’s holdings in Novo Nordisk A/S were worth $230,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Global X Japan Co. Ltd. raised its stake in Novo Nordisk A/S by 10.6% during the 3rd quarter. Global X Japan Co. Ltd. now owns 15,780 shares of the company’s stock valued at $1,879,000 after purchasing an additional 1,516 shares during the last quarter. Weaver Capital Management LLC increased its holdings in shares of Novo Nordisk A/S by 15.3% during the 3rd quarter. Weaver Capital Management LLC now owns 2,298 shares of the company’s stock worth $274,000 after purchasing an additional 305 shares during the period. Stanley Laman Group Ltd. acquired a new position in shares of Novo Nordisk A/S during the third quarter valued at about $282,000. Waldron Private Wealth LLC lifted its stake in shares of Novo Nordisk A/S by 44.8% in the third quarter. Waldron Private Wealth LLC now owns 4,141 shares of the company’s stock valued at $493,000 after buying an additional 1,282 shares during the period. Finally, Eastern Bank acquired a new stake in Novo Nordisk A/S during the third quarter worth about $10,708,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NVO shares. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. Finally, BMO Capital Markets dropped their price objective on shares of 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 issued a buy rating to the stock. According to data from MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $116.46 on Wednesday. Novo Nordisk A/S has a 1-year low of $92.94 and a 1-year high of $148.15. The company has a 50 day moving average of $127.89 and a 200-day moving average of $131.61. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The firm has a market cap of $522.62 billion, a price-to-earnings ratio of 39.88, a PEG ratio of 1.54 and a beta of 0.42.

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 analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. On average, equities analysts forecast that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal 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 issued a dividend of $0.5126 per share. This represents a yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is currently 24.66%.

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.