Rehmann Capital Advisory Group Has $910,000 Stock Position in Novo Nordisk A/S $NVO

Rehmann Capital Advisory Group cut its stake in Novo Nordisk A/S (NYSE:NVO) by 6.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,186 shares of the company’s stock after selling 961 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Novo Nordisk A/S were worth $910,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sterling Investment Management LLC purchased a new stake in shares of Novo Nordisk A/S in the second quarter worth approximately $956,000. Exencial Wealth Advisors LLC raised its stake in shares of Novo Nordisk A/S by 5.2% in the second quarter. Exencial Wealth Advisors LLC now owns 24,822 shares of the company’s stock worth $1,713,000 after purchasing an additional 1,221 shares during the last quarter. Brookstone Capital Management raised its stake in shares of Novo Nordisk A/S by 55.3% in the second quarter. Brookstone Capital Management now owns 22,037 shares of the company’s stock worth $1,521,000 after purchasing an additional 7,848 shares during the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of Novo Nordisk A/S by 0.9% in the second quarter. Cullen Frost Bankers Inc. now owns 117,889 shares of the company’s stock worth $8,137,000 after purchasing an additional 1,060 shares during the last quarter. Finally, DecisionMap Wealth Management LLC grew its holdings in shares of Novo Nordisk A/S by 14.3% in the second quarter. DecisionMap Wealth Management LLC now owns 8,418 shares of the company’s stock valued at $581,000 after acquiring an additional 1,052 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $53.37 on Thursday. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $116.43. The business has a fifty day moving average price of $56.51 and a 200-day moving average price of $62.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The firm has a market capitalization of $238.29 billion, a P/E ratio of 14.66, a PEG ratio of 2.49 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The firm had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. As a group, equities research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were given a $0.4119 dividend. This represents a dividend yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio (DPR) is 22.53%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Dbs Bank raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Friday, August 22nd. Wall Street Zen lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Morgan Stanley lowered Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and reduced their price objective for the company from $59.00 to $47.00 in a report on Monday, September 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Novo Nordisk A/S in a report on Tuesday, October 14th. Finally, TD Cowen reduced their price objective on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $76.00.

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.