Northwest Investment Counselors LLC Sells 107 Shares of Novo Nordisk A/S (NYSE:NVO)

Northwest Investment Counselors LLC reduced its holdings in Novo Nordisk A/S (NYSE:NVO) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,698 shares of the company’s stock after selling 107 shares during the quarter. Northwest Investment Counselors LLC’s holdings in Novo Nordisk A/S were worth $559,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. First PREMIER Bank purchased a new position in shares of Novo Nordisk A/S during the first quarter valued at approximately $25,000. 1620 Investment Advisors Inc. bought a new stake in shares of Novo Nordisk A/S during the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Novo Nordisk A/S during the 2nd quarter valued at $25,000. Dixon Mitchell Investment Counsel Inc. bought a new position in Novo Nordisk A/S in the 1st quarter worth about $26,000. Finally, Orion Capital Management LLC bought a new position in Novo Nordisk A/S in the 1st quarter worth about $26,000. Institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NVO shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday, October 10th. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets decreased 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 report on Thursday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Trading Down 0.5 %

Shares of NYSE NVO traded down $0.64 during midday trading on Monday, reaching $117.45. 2,149,297 shares of the stock were exchanged, compared to its average volume of 4,282,987. 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 stock has a market capitalization of $527.06 billion, a P/E ratio of 40.18, a PEG ratio of 1.56 and a beta of 0.42. The company has a 50 day simple moving average of $128.48 and a 200 day simple moving average of $131.72. Novo Nordisk A/S has a twelve month low of $92.94 and a twelve month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly 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). The firm had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. As a group, equities 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 firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given a $0.5126 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio 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.