Novare Capital Management LLC Buys 85 Shares of Novo Nordisk A/S (NYSE:NVO)

Novare Capital Management LLC grew its stake in Novo Nordisk A/S (NYSE:NVO) by 3.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,727 shares of the company’s stock after purchasing an additional 85 shares during the period. Novare Capital Management LLC’s holdings in Novo Nordisk A/S were worth $325,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Adamsbrown Wealth Consultants LLC boosted its stake in Novo Nordisk A/S by 13.8% during the third quarter. Adamsbrown Wealth Consultants LLC now owns 1,916 shares of the company’s stock worth $228,000 after buying an additional 233 shares during the period. Sapient Capital LLC lifted its holdings in shares of Novo Nordisk A/S by 0.7% in the 3rd quarter. Sapient Capital LLC now owns 640,279 shares of the company’s stock worth $76,238,000 after acquiring an additional 4,429 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Novo Nordisk A/S in the 3rd quarter worth about $313,000. Procyon Advisors LLC boosted its stake in shares of Novo Nordisk A/S by 6.7% during the 3rd quarter. Procyon Advisors LLC now owns 63,649 shares of the company’s stock worth $7,579,000 after purchasing an additional 4,010 shares during the period. Finally, Compagnie Lombard Odier SCmA grew its holdings in Novo Nordisk A/S by 1.3% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 64,545 shares of the company’s stock valued at $7,685,000 after purchasing an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

NVO has been the subject of several recent analyst reports. BMO Capital Markets dropped their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. 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 Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Trading Down 0.2 %

NVO opened at $119.77 on Tuesday. Novo Nordisk A/S has a 52 week low of $92.94 and a 52 week high of $148.15. The company has a market capitalization of $537.47 billion, a P/E ratio of 41.30, a PEG ratio of 1.53 and a beta of 0.42. The stock’s fifty day moving average is $129.26 and its two-hundred day moving average is $131.98. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. Analysts forecast that Novo Nordisk A/S will post 3.01 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued a dividend of $0.5126 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is currently 24.83%.

Novo Nordisk A/S 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.