Kercheville Advisors LLC Lowers Position in Novo Nordisk A/S (NYSE:NVO)

Kercheville Advisors LLC decreased its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 7.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,450 shares of the company’s stock after selling 500 shares during the quarter. Kercheville Advisors LLC’s holdings in Novo Nordisk A/S were worth $768,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cavalier Investments LLC raised its position in Novo Nordisk A/S by 6.5% during the third quarter. Cavalier Investments LLC now owns 22,469 shares of the company’s stock valued at $2,675,000 after purchasing an additional 1,380 shares in the last quarter. Riggs Asset Managment Co. Inc. increased its position in shares of Novo Nordisk A/S by 0.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 44,342 shares of the company’s stock valued at $5,280,000 after purchasing an additional 390 shares during the last quarter. Lynch Asset Management Inc. increased its position in shares of Novo Nordisk A/S by 1.4% during the 3rd quarter. Lynch Asset Management Inc. now owns 106,300 shares of the company’s stock valued at $12,657,000 after purchasing an additional 1,500 shares during the last quarter. Clear Harbor Asset Management LLC raised its holdings in shares of Novo Nordisk A/S by 5.0% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 3,628 shares of the company’s stock valued at $432,000 after buying an additional 172 shares in the last quarter. Finally, Bristlecone Advisors LLC lifted its position in Novo Nordisk A/S by 7.9% in the 3rd quarter. Bristlecone Advisors LLC now owns 9,898 shares of the company’s stock worth $1,179,000 after buying an additional 725 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on NVO. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets decreased their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $113.38 on Monday. The company’s fifty day simple moving average is $126.61 and its two-hundred day simple moving average is $131.37. Novo Nordisk A/S has a 12-month low of $92.94 and a 12-month high of $148.15. The firm has a market cap of $508.80 billion, a PE ratio of 39.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.42. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.06). The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate 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 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were paid a $0.5126 dividend. This represents a yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s payout ratio is 24.83%.

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.