Tevis Investment Management Sells 222 Shares of Novo Nordisk A/S (NYSE:NVO)

Tevis Investment Management cut its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 1.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,086 shares of the company’s stock after selling 222 shares during the quarter. Novo Nordisk A/S makes up 1.3% of Tevis Investment Management’s portfolio, making the stock its 26th largest holding. Tevis Investment Management’s holdings in Novo Nordisk A/S were worth $1,796,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in NVO. 1620 Investment Advisors Inc. acquired a new position in Novo Nordisk A/S in the second quarter valued at about $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Novo Nordisk A/S in the second quarter valued at approximately $25,000. Orion Capital Management LLC acquired a new position in shares of Novo Nordisk A/S in the 1st quarter worth approximately $26,000. Gilliland Jeter Wealth Management LLC boosted its holdings in shares of 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. Finally, Halpern Financial Inc. grew its position in Novo Nordisk A/S by 113.0% during the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock worth $30,000 after acquiring an additional 113 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $113.24 on Thursday. The business’s 50-day simple moving average is $125.25 and its 200 day simple moving average is $131.06. 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 stock has a market cap of $508.17 billion, a price-to-earnings ratio of 38.78, a P/E/G ratio of 1.48 and a beta of 0.42. Novo Nordisk A/S has a 12-month low of $94.73 and a 12-month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its 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 net margin of 34.86% and a return on equity of 87.43%. The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. As a group, 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 firm 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. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s payout ratio is 24.66%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NVO shares. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets cut their price target on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average price target of $144.50.

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.