JCIC Asset Management Inc. Has $4.35 Million Position in Novo Nordisk A/S (NYSE:NVO)

JCIC Asset Management Inc. grew its holdings in Novo Nordisk A/S (NYSE:NVO) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,542 shares of the company’s stock after buying an additional 213 shares during the quarter. Novo Nordisk A/S makes up 1.8% of JCIC Asset Management Inc.’s portfolio, making the stock its 20th largest position. JCIC Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $4,351,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NVO. 1620 Investment Advisors Inc. bought a new position in shares of Novo Nordisk A/S in the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Novo Nordisk A/S during the 2nd quarter worth $25,000. Dixon Mitchell Investment Counsel Inc. bought a new position in Novo Nordisk A/S in the 1st quarter valued at $26,000. Orion Capital Management LLC acquired a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at $26,000. Finally, Gilliland Jeter Wealth Management LLC raised its position in shares of Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after acquiring an additional 120 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 $115.70 on Thursday. The firm has a market capitalization of $519.21 billion, a P/E ratio of 39.62, a PEG ratio of 1.54 and a beta of 0.42. The business has a 50-day moving average of $127.52 and a 200-day moving average of $131.50. 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 $92.94 and a 1 year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data 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). The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. On average, equities analysts anticipate that Novo Nordisk A/S will post 3.01 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. Shareholders of record on Friday, August 16th were issued a $0.5126 dividend. 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 24.66%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NVO. BMO Capital Markets decreased their price target on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. Finally, StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.