Fairfield Financial Advisors LTD Takes Position in Novo Nordisk A/S (NYSE:NVO)

Fairfield Financial Advisors LTD bought a new position in Novo Nordisk A/S (NYSE:NVO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 48,463 shares of the company’s stock, valued at approximately $6,918,000. Novo Nordisk A/S comprises about 2.4% of Fairfield Financial Advisors LTD’s portfolio, making the stock its 13th biggest position.

A number of other institutional investors and hedge funds also recently modified their holdings of NVO. Aveo Capital Partners LLC purchased a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at approximately $205,000. 9258 Wealth Management LLC boosted its position in shares of Novo Nordisk A/S by 4.0% in the fourth quarter. 9258 Wealth Management LLC now owns 2,513 shares of the company’s stock worth $260,000 after buying an additional 97 shares during the period. Rollins Financial grew its holdings in shares of Novo Nordisk A/S by 10.4% during the fourth quarter. Rollins Financial now owns 3,894 shares of the company’s stock valued at $403,000 after buying an additional 368 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Novo Nordisk A/S by 38.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock valued at $9,781,000 after buying an additional 26,067 shares during the period. Finally, Gryphon Financial Partners LLC acquired a new stake in Novo Nordisk A/S during the 4th quarter worth about $237,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Trading Up 0.2 %

Novo Nordisk A/S stock opened at $137.00 on Monday. Novo Nordisk A/S has a one year low of $86.96 and a one year high of $148.15. The company’s fifty day moving average price is $134.03 and its two-hundred day moving average price is $133.02. The company has a market capitalization of $614.79 billion, a price-to-earnings ratio of 47.24, a PEG ratio of 1.48 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 (NYSE:NVO) last issued its quarterly earnings data 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 net margin of 34.86% and a return on equity of 87.43%. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. On average, analysts forecast that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were paid 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%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. BMO Capital Markets dropped their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 19th. 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 Monday, September 9th. Argus lifted their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $145.17.

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.