Wesbanco Bank Inc. Raises Stake in Novo Nordisk A/S (NYSE:NVO)

Wesbanco Bank Inc. raised its position in Novo Nordisk A/S (NYSE:NVO) by 35.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,892 shares of the company’s stock after purchasing an additional 21,904 shares during the period. Wesbanco Bank Inc.’s holdings in Novo Nordisk A/S were worth $9,989,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Bank of New Hampshire increased its holdings in Novo Nordisk A/S by 1,356.8% in the first quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock valued at $1,702,000 after buying an additional 12,347 shares during the last quarter. Independence Bank of Kentucky raised its position in shares of Novo Nordisk A/S by 192.7% during the 3rd quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock worth $1,368,000 after acquiring an additional 7,565 shares in 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 boosted its holdings in 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. Finally, Texas Capital Bank Wealth Management Services Inc purchased a new position in Novo Nordisk A/S in the second quarter valued at approximately $1,624,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $119.77 on Tuesday. The business’s 50-day moving average price is $129.26 and its 200 day moving average price is $131.98. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a market cap of $537.47 billion, a P/E ratio of 41.30, a P/E/G ratio of 1.53 and a beta of 0.42. Novo Nordisk A/S has a 52-week low of $92.94 and a 52-week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results 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). 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 during the quarter, compared to analyst estimates of $9.91 billion. On average, equities research analysts expect that Novo Nordisk A/S will post 3.01 earnings per share 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. Stockholders of record on Friday, August 16th were issued a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s payout ratio is 24.83%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NVO. BMO Capital Markets dropped their target price on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. One research 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.17.

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.