Novo Nordisk A/S (NYSE:NVO) is Traynor Capital Management Inc.’s 8th Largest Position

Traynor Capital Management Inc. raised its stake in Novo Nordisk A/S (NYSE:NVO) by 3.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 305,404 shares of the company’s stock after purchasing an additional 10,019 shares during the quarter. Novo Nordisk A/S accounts for about 2.2% of Traynor Capital Management Inc.’s portfolio, making the stock its 8th biggest position. Traynor Capital Management Inc.’s holdings in Novo Nordisk A/S were worth $36,364,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of NVO. 1620 Investment Advisors Inc. bought a new stake in Novo Nordisk A/S during the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in Novo Nordisk A/S during the 2nd quarter valued at $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Novo Nordisk A/S in the 1st quarter worth $26,000. Orion Capital Management LLC purchased a new stake in Novo Nordisk A/S in the 1st quarter worth $26,000. Finally, Gilliland Jeter Wealth Management LLC increased its stake in Novo Nordisk A/S by 200.0% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after buying an additional 120 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Down 0.9 %

NVO stock opened at $112.39 on Tuesday. The company has a market cap of $504.35 billion, a price-to-earnings ratio of 38.49, a PEG ratio of 1.48 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a 12 month low of $94.73 and a 12 month high of $148.15. The firm has a 50-day moving average of $126.16 and a two-hundred day moving average of $131.28.

Novo Nordisk A/S (NYSE:NVO) last released 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). The business had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. As a group, analysts forecast that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued a $0.5126 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s payout ratio is 24.66%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NVO shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. BMO Capital Markets lowered their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. 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 research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S has an average rating of “Moderate Buy” and a consensus price target 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.