48,463 Shares in Novo Nordisk A/S (NYSE:NVO) Purchased by Fairfield Financial Advisors LTD

Fairfield Financial Advisors LTD bought a new stake in Novo Nordisk A/S (NYSE:NVO) during the second quarter, Holdings Channel.com reports. The fund bought 48,463 shares of the company’s stock, valued at approximately $6,918,000. Novo Nordisk A/S makes up about 2.4% of Fairfield Financial Advisors LTD’s portfolio, making the stock its 13th largest position.

Several other institutional investors also recently added to or reduced their stakes in NVO. First PREMIER Bank acquired a new position in Novo Nordisk A/S during the 1st quarter valued at $25,000. 1620 Investment Advisors Inc. bought a new stake in shares of Novo Nordisk A/S in the second quarter valued at about $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Novo Nordisk A/S during the first quarter worth about $26,000. Orion Capital Management LLC bought a new position in Novo Nordisk A/S during the first quarter valued at about $26,000. Finally, Gilliland Jeter Wealth Management LLC raised 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 valued at $26,000 after acquiring an additional 120 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Price Performance

NYSE:NVO opened at $137.00 on Monday. The firm has a market cap of $614.79 billion, a PE ratio of 47.24, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42. The company’s 50-day moving average price is $134.03 and its two-hundred day moving average price is $133.02. 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 12 month low of $86.96 and a 12 month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released 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 return on equity of 87.43% and a net margin of 34.86%. The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. On average, equities 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 declared a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were paid a dividend of $0.5126 per share. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 24.83%.

Analysts Set New Price Targets

NVO has been the topic of several recent research reports. Argus lifted their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. BMO Capital Markets dropped their price objective on shares of 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. The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday, September 9th. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Monday, August 19th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $145.17.

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.