18,088 Shares of Novo Nordisk A/S $NVO Acquired by WESPAC Advisors LLC

WESPAC Advisors LLC bought a new stake in Novo Nordisk A/S (NYSE:NVO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 18,088 shares of the company’s stock, valued at approximately $686,000.

A number of other institutional investors have also added to or reduced their stakes in NVO. Verdence Capital Advisors LLC grew its stake in Novo Nordisk A/S by 10.1% in the third quarter. Verdence Capital Advisors LLC now owns 10,654 shares of the company’s stock valued at $404,000 after acquiring an additional 979 shares during the period. Kingswood Wealth Advisors LLC raised its position in shares of Novo Nordisk A/S by 20.1% during the third quarter. Kingswood Wealth Advisors LLC now owns 12,790 shares of the company’s stock worth $485,000 after purchasing an additional 2,144 shares during the period. Samalin Investment Counsel LLC raised its position in shares of Novo Nordisk A/S by 9.4% during the third quarter. Samalin Investment Counsel LLC now owns 18,953 shares of the company’s stock worth $719,000 after purchasing an additional 1,632 shares during the period. Sowell Financial Services LLC lifted its holdings in shares of Novo Nordisk A/S by 38.6% in the 3rd quarter. Sowell Financial Services LLC now owns 14,270 shares of the company’s stock worth $541,000 after purchasing an additional 3,975 shares in the last quarter. Finally, Gibbs Wealth Management lifted its holdings in shares of Novo Nordisk A/S by 25.2% in the 3rd quarter. Gibbs Wealth Management now owns 45,190 shares of the company’s stock worth $1,713,000 after purchasing an additional 9,083 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NVO has been the subject of several research reports. BMO Capital Markets set a $40.00 price target on shares of Novo Nordisk A/S and gave the company a “market perform” rating in a research report on Monday, October 12th. Jefferies Financial Group reaffirmed a “neutral” rating on shares of Novo Nordisk A/S in a research note on Monday, September 21st. Berenberg Bank reiterated a “neutral” rating on shares of Novo Nordisk A/S in a report on Monday, September 21st. Citigroup reaffirmed a “neutral” rating on shares of Novo Nordisk A/S in a research report on Friday, October 9th. Finally, Barclays reissued a “neutral” rating on shares of Novo Nordisk A/S in a research note on Monday, September 7th. Five investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, Novo Nordisk A/S has an average rating of “Hold” and an average price target of $59.44.

Novo Nordisk A/S Stock Performance

NVO stock opened at $39.12 on Tuesday. The firm has a market cap of $174.67 billion, a PE ratio of 9.56, a P/E/G ratio of 1.33 and a beta of 0.76. The company has a quick ratio of 0.66, a current ratio of 0.87 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average of $41.91 and a 200-day moving average of $44.81. Novo Nordisk A/S has a 12-month low of $35.12 and a 12-month high of $64.16.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.94 EPS for the quarter. Novo Nordisk A/S had a return on equity of 58.61% and a net margin of 35.36%. The company had revenue of $11.98 billion during the quarter. As a group, sell-side analysts expect that Novo Nordisk A/S will post 3.42 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently announced a dividend, which was paid on Tuesday, August 25th. Shareholders of record on Monday, August 17th were given a $0.5786 dividend. This is a decrease from Novo Nordisk A/S’s previous dividend of $1.2751. This represents a yield of 258.0%. The ex-dividend date of this dividend was Monday, August 17th. Novo Nordisk A/S’s dividend payout ratio (DPR) is 20.05%.

About Novo Nordisk A/S

Novo Nordisk A/S is a Danish pharmaceutical company headquartered in Bagsværd, Denmark. The company focuses on developing and manufacturing medicines and delivery systems for chronic diseases, with a primary emphasis on diabetes and obesity care.

Novo Nordisk offers a broad portfolio of insulin products, as well as glucagon-like peptide-1 (GLP-1) medicines used in diabetes management and weight treatment. Its well-known products include Ozempic and Rybelsus for type 2 diabetes, Wegovy for chronic weight management, and several modern and human insulin products.