Merriman Wealth Management LLC Acquires 145 Shares of Novo Nordisk A/S (NYSE:NVO)

Merriman Wealth Management LLC grew its holdings in Novo Nordisk A/S (NYSE:NVO) by 6.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,325 shares of the company’s stock after acquiring an additional 145 shares during the period. Merriman Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $332,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. First PREMIER Bank bought a new position in Novo Nordisk A/S in the 1st quarter worth $25,000. 1620 Investment Advisors Inc. purchased a new position in shares of Novo Nordisk A/S during the 2nd quarter valued at about $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Novo Nordisk A/S during the 1st quarter valued at about $26,000. Orion Capital Management LLC bought a new position in shares of Novo Nordisk A/S during the 1st quarter valued at approximately $26,000. Finally, Gilliland Jeter Wealth Management LLC increased its holdings 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 acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 5.5 %

NVO opened at $127.51 on Friday. The company has a market capitalization of $572.21 billion, a PE ratio of 43.97, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42. The firm has a 50-day simple moving average of $133.13 and a two-hundred day simple moving average of $133.26. 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 has a 52 week low of $86.96 and a 52 week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. Analysts forecast that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal 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 given a $0.5126 dividend. This represents a yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is presently 24.83%.

Wall Street Analysts Forecast Growth

NVO has been the topic of several analyst reports. Argus lifted their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 target price on the stock. BMO Capital Markets cut their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. 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 Monday, September 16th. Finally, StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $145.17.

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.