Lynch Asset Management Inc. Has $12.66 Million Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Lynch Asset Management Inc. boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 106,300 shares of the company’s stock after buying an additional 1,500 shares during the quarter. Novo Nordisk A/S makes up approximately 5.3% of Lynch Asset Management Inc.’s portfolio, making the stock its 2nd largest holding. Lynch Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $12,657,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. bought a new position in Novo Nordisk A/S during the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL bought a new position in Novo Nordisk A/S during the second quarter worth about $25,000. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Novo Nordisk A/S in the first quarter valued at approximately $26,000. Orion Capital Management LLC bought a new position in shares of Novo Nordisk A/S in the first quarter valued at approximately $26,000. Finally, Gilliland Jeter Wealth Management LLC boosted its position in shares of Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after acquiring an additional 120 shares during the period. Institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

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

Novo Nordisk A/S Price Performance

NVO traded down $0.54 on Friday, reaching $113.38. The company had a trading volume of 4,564,363 shares, compared to its average volume of 4,288,053. The business has a 50 day simple moving average of $126.61 and a 200 day simple moving average of $131.32. The company has a market cap of $508.80 billion, a price-to-earnings ratio of 39.10, a P/E/G ratio of 1.52 and a beta of 0.42. 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 52-week low of $92.94 and a 52-week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations 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, sell-side analysts anticipate 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. Shareholders of record on Friday, August 16th were paid a dividend of $0.5126 per share. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

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.