Brown Miller Wealth Management LLC Grows Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Brown Miller Wealth Management LLC lifted its holdings in Novo Nordisk A/S (NYSE:NVO) by 2.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,308 shares of the company’s stock after purchasing an additional 122 shares during the period. Brown Miller Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $512,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NVO. First PREMIER Bank purchased a new position in Novo Nordisk A/S in the first quarter worth approximately $25,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Novo Nordisk A/S in the 2nd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new position in Novo Nordisk A/S during the second quarter worth $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Novo Nordisk A/S in the first quarter valued at $26,000. Finally, Orion Capital Management LLC acquired a new position in Novo Nordisk A/S in the first quarter valued at $26,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $120.04 on Friday. Novo Nordisk A/S has a one year low of $92.94 and a one year high of $148.15. The company has a market capitalization of $538.68 billion, a PE ratio of 41.11, a price-to-earnings-growth ratio of 1.53 and a beta of 0.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The stock has a fifty day moving average of $129.39 and a 200-day moving average of $132.02.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results 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). 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 during the quarter, compared to analysts’ expectations of $9.91 billion. As a group, equities analysts anticipate that Novo Nordisk A/S will post 3.01 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given a dividend of $0.5126 per share. This represents a yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s payout ratio is presently 24.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NVO shares. BMO Capital Markets cut their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Thursday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $145.17.

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.