Tower View Wealth Management LLC Raises Position in Novo Nordisk A/S (NYSE:NVO)

Tower View Wealth Management LLC lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,656 shares of the company’s stock after buying an additional 196 shares during the quarter. Tower View Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $2,817,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. 1620 Investment Advisors Inc. acquired a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new position in Novo Nordisk A/S during the 2nd quarter valued at $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Novo Nordisk A/S during the 1st quarter worth $26,000. Orion Capital Management LLC bought a new stake in shares of Novo Nordisk A/S in the 1st quarter worth about $26,000. Finally, Gilliland Jeter Wealth Management LLC raised its stake in shares of 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 valued at $26,000 after purchasing an additional 120 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $112.07 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. Novo Nordisk A/S has a 1 year low of $94.73 and a 1 year high of $148.15. The firm has a fifty day moving average of $126.61 and a 200-day moving average of $131.37. The company has a market cap of $502.92 billion, a price-to-earnings ratio of 39.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.42.

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

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were issued 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 currently 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.