Tectonic Advisors LLC Grows Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Tectonic Advisors LLC increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 6.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,512 shares of the company’s stock after buying an additional 340 shares during the period. Tectonic Advisors LLC’s holdings in Novo Nordisk A/S were worth $656,000 as of its most recent filing with the Securities and Exchange Commission.

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

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $113.37 on Friday. Novo Nordisk A/S has a one year low of $92.94 and a one year high of $148.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The company has a 50 day moving average price of $127.04 and a 200 day moving average price of $131.38. The firm has a market capitalization of $508.75 billion, a price-to-earnings ratio of 39.09, a price-to-earnings-growth ratio of 1.52 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate 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 company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Sell-side analysts anticipate that Novo Nordisk A/S will post 3.01 EPS for the current 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. This represents a yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is 24.83%.

Wall Street Analysts Forecast Growth

NVO has been the topic of several recent research reports. 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 on the stock in a report on Thursday, October 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. Finally, StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $144.50.

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.