Tectonic Advisors LLC Grows Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Tectonic Advisors LLC increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 6.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,512 shares of the company’s stock after acquiring an additional 340 shares during the quarter. Tectonic Advisors LLC’s holdings in Novo Nordisk A/S were worth $656,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of research analysts have commented on the stock. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets dropped their price objective on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued 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 company presently has an average rating of “Moderate Buy” and an average target price of $144.50.

Novo Nordisk A/S Trading Down 0.5 %

Shares of Novo Nordisk A/S stock opened at $113.37 on Friday. Novo Nordisk A/S has a 52-week low of $92.94 and a 52-week high of $148.15. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company’s 50-day simple moving average is $127.04 and its 200-day simple moving average is $131.38. The firm has a market cap of $508.75 billion, a price-to-earnings ratio of 39.09, 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 results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. As a group, equities research 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 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 dividend payout ratio is currently 24.83%.

Novo Nordisk A/S 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.