Whittier Trust Co. Purchases 1,115 Shares of Novo Nordisk A/S (NYSE:NVO)

Whittier Trust Co. grew its position in shares of Novo Nordisk A/S (NYSE:NVO) by 2.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,796 shares of the company’s stock after purchasing an additional 1,115 shares during the period. Whittier Trust Co.’s holdings in Novo Nordisk A/S were worth $5,453,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky lifted its stake in Novo Nordisk A/S by 192.7% during the third quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock worth $1,368,000 after purchasing an additional 7,565 shares during the last quarter. Fox Hill Wealth Management lifted its stake in Novo Nordisk A/S by 121.3% during the first quarter. Fox Hill Wealth Management now owns 28,320 shares of the company’s stock worth $3,636,000 after purchasing an additional 15,525 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Novo Nordisk A/S by 453.3% in the 1st quarter. Cetera Investment Advisers now owns 265,538 shares of the company’s stock valued at $34,095,000 after acquiring an additional 217,545 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc bought a new stake in shares of Novo Nordisk A/S in the 2nd quarter valued at about $1,624,000. Finally, Azzad Asset Management Inc. ADV lifted its stake in shares of Novo Nordisk A/S by 55.9% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 41,107 shares of the company’s stock valued at $4,895,000 after acquiring an additional 14,731 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 0.6 %

NVO opened at $117.33 on Tuesday. The business has a 50 day simple moving average of $128.23 and a two-hundred day simple moving average of $131.67. The firm has a market capitalization of $526.52 billion, a price-to-earnings ratio of 40.46, a PEG ratio of 1.56 and a beta of 0.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. 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 analysts’ consensus estimates of $0.71 by ($0.06). The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. Analysts predict that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently announced 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. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 24.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NVO shares. BMO Capital Markets lowered their target price on 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. Finally, StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.