Tevis Investment Management Sells 222 Shares of Novo Nordisk A/S (NYSE:NVO)

Tevis Investment Management decreased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 1.5% during the 3rd quarter, Holdings Channel reports. The fund owned 15,086 shares of the company’s stock after selling 222 shares during the quarter. Novo Nordisk A/S accounts for about 1.3% of Tevis Investment Management’s investment portfolio, making the stock its 26th biggest holding. Tevis Investment Management’s holdings in Novo Nordisk A/S were worth $1,796,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. 1620 Investment Advisors Inc. bought a new position in shares of Novo Nordisk A/S during the second quarter worth $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Novo Nordisk A/S in the 2nd quarter valued at $25,000. Orion Capital Management LLC acquired a new stake in Novo Nordisk A/S during the 1st quarter worth $26,000. Gilliland Jeter Wealth Management LLC grew its stake in Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after acquiring an additional 120 shares during the period. Finally, Halpern Financial Inc. grew its stake in Novo Nordisk A/S by 113.0% in the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after acquiring an additional 113 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NVO. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. Finally, BMO Capital Markets lowered 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 report on Thursday, October 17th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S has an average rating of “Moderate Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $113.24 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a twelve month low of $94.73 and a twelve month high of $148.15. The stock has a market capitalization of $508.17 billion, a P/E ratio of 38.78, a P/E/G ratio of 1.48 and a beta of 0.42. The company has a 50 day moving average of $125.25 and a 200-day moving average of $131.06.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $9.91 billion. As a group, equities research analysts forecast that Novo Nordisk A/S will post 3.01 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given 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%.

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.