Chase Investment Counsel Corp Takes $6.23 Million Position in Novo Nordisk A/S (NYSE:NVO)

Chase Investment Counsel Corp bought a new position in Novo Nordisk A/S (NYSE:NVO) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 46,942 shares of the company’s stock, valued at approximately $6,225,000. Novo Nordisk A/S accounts for approximately 2.1% of Chase Investment Counsel Corp’s portfolio, making the stock its 8th largest position.

Other large investors have also modified their holdings of the company. Advisor OS LLC boosted its stake in shares of Novo Nordisk A/S by 0.6% during the 2nd quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after buying an additional 82 shares during the last quarter. Cascade Financial Partners LLC raised its stake in Novo Nordisk A/S by 2.3% during the second quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock worth $543,000 after acquiring an additional 84 shares during the period. Cravens & Co Advisors LLC lifted its holdings in Novo Nordisk A/S by 1.0% in the first quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock worth $1,059,000 after acquiring an additional 85 shares during the last quarter. AA Financial Advisors LLC boosted its position in Novo Nordisk A/S by 3.2% during the 2nd quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock valued at $400,000 after purchasing an additional 86 shares during the period. Finally, Steel Grove Capital Advisors LLC grew its position in shares of Novo Nordisk A/S by 2.3% during the second quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock worth $541,000 after acquiring an additional 86 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NVO. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, September 16th. Argus boosted their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. BMO Capital Markets lowered their price objective on shares of 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, StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $145.17.

Novo Nordisk A/S Price Performance

NYSE NVO opened at $120.76 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. Novo Nordisk A/S has a 1 year low of $86.96 and a 1 year high of $148.15. The company has a market cap of $541.91 billion, a PE ratio of 41.64, a PEG ratio of 1.35 and a beta of 0.42. The stock’s 50-day moving average price is $131.97 and its two-hundred day moving average price is $132.98.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $9.91 billion. On average, analysts predict that Novo Nordisk A/S will post 3.11 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 given a dividend of $0.5126 per share. This represents a yield of 0.7%. The ex-dividend date of this dividend 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.