Morse Asset Management Inc Has $3.95 Million Stake in Novo Nordisk A/S (NYSE:NVO)

Morse Asset Management Inc trimmed its position in shares of Novo Nordisk A/S (NYSE:NVO) by 3.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,636 shares of the company’s stock after selling 1,059 shares during the period. Morse Asset Management Inc’s holdings in Novo Nordisk A/S were worth $3,945,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. purchased a new position in shares of Novo Nordisk A/S during the second quarter valued at $25,000. Gilliland Jeter Wealth Management LLC grew its stake in Novo Nordisk A/S by 200.0% during the 2nd 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 in the last quarter. First PREMIER Bank acquired a new position in shares of Novo Nordisk A/S in the 1st quarter valued at about $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Novo Nordisk A/S in the first quarter worth approximately $26,000. Finally, Orion Capital Management LLC acquired a new stake in shares of Novo Nordisk A/S during the first quarter worth approximately $26,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday, September 16th. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 18th. The Goldman Sachs Group started coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective for the company. BMO Capital Markets lowered their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Argus raised their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Stock Down 5.5 %

NVO stock opened at $127.51 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The firm has a market cap of $572.21 billion, a PE ratio of 43.97, a PEG ratio of 1.48 and a beta of 0.42. Novo Nordisk A/S has a 1 year low of $86.96 and a 1 year high of $148.15. The company has a fifty day simple moving average of $133.13 and a 200 day simple moving average of $133.32.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly 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 analyst estimates of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. Sell-side analysts anticipate that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were given a dividend of $0.5126 per share. The ex-dividend date was Friday, August 16th. This represents a yield of 0.7%. 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.