Bristlecone Advisors LLC Raises Stake in Novo Nordisk A/S (NYSE:NVO)

Bristlecone Advisors LLC boosted its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 7.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,898 shares of the company’s stock after acquiring an additional 725 shares during the period. Bristlecone Advisors LLC’s holdings in Novo Nordisk A/S were worth $1,179,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. 1620 Investment Advisors Inc. bought a new stake in Novo Nordisk A/S during the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL bought a new stake in Novo Nordisk A/S during the 2nd quarter valued at about $25,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in Novo Nordisk A/S during the 1st quarter valued at about $26,000. Orion Capital Management LLC bought a new stake in Novo Nordisk A/S during the 1st quarter valued at about $26,000. Finally, Gilliland Jeter Wealth Management LLC increased its stake in Novo Nordisk A/S by 200.0% during 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 in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Performance

NVO opened at $113.38 on Monday. 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 company has a market cap of $508.80 billion, a price-to-earnings ratio of 39.10, a PEG ratio of 1.52 and a beta of 0.42. The company’s 50 day moving average is $126.61 and its 200 day moving average is $131.37. Novo Nordisk A/S has a 12-month low of $92.94 and a 12-month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. On average, equities research analysts predict that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were issued a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s payout ratio is 24.83%.

Analyst Upgrades and Downgrades

NVO has been the subject of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets reduced their price target 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 analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and an average price target of $144.50.

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.