Private Advisor Group LLC Sells 1,074 Shares of Novo Nordisk A/S (NYSE:NVO)

Private Advisor Group LLC trimmed its holdings in Novo Nordisk A/S (NYSE:NVO) by 1.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,063 shares of the company’s stock after selling 1,074 shares during the period. Private Advisor Group LLC’s holdings in Novo Nordisk A/S were worth $11,081,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in NVO. Stanley Laman Group Ltd. purchased a new stake in Novo Nordisk A/S in the 3rd quarter valued at $282,000. Waldron Private Wealth LLC raised its holdings in shares of Novo Nordisk A/S by 44.8% in the third quarter. Waldron Private Wealth LLC now owns 4,141 shares of the company’s stock valued at $493,000 after purchasing an additional 1,282 shares during the last quarter. Eastern Bank bought a new position in shares of Novo Nordisk A/S during the third quarter valued at about $10,708,000. Signaturefd LLC boosted its holdings in Novo Nordisk A/S by 0.4% during the third quarter. Signaturefd LLC now owns 78,647 shares of the company’s stock worth $9,365,000 after purchasing an additional 316 shares during the last quarter. Finally, Argus Investors Counsel Inc. grew its position in Novo Nordisk A/S by 3.8% in the 3rd quarter. Argus Investors Counsel Inc. now owns 3,104 shares of the company’s stock worth $370,000 after purchasing an additional 114 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. BMO Capital Markets cut their target price on 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. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday, October 10th. Finally, 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. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $113.94 on Friday. The company’s 50 day simple moving average is $127.52 and its two-hundred day simple moving average is $131.50. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. Novo Nordisk A/S has a 1 year low of $92.94 and a 1 year high of $148.15. The stock has a market capitalization of $511.31 billion, a PE ratio of 39.02, a P/E/G ratio of 1.52 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share (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 business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. Analysts predict that Novo Nordisk A/S will post 3.01 earnings per share 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 issued a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s payout ratio is 24.66%.

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.