Novo Nordisk A/S (NYSE:NVO) Shares Acquired by Stonegate Investment Group LLC

Stonegate Investment Group LLC increased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 2.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,291 shares of the company’s stock after purchasing an additional 677 shares during the period. Stonegate Investment Group LLC’s holdings in Novo Nordisk A/S were worth $3,607,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 1620 Investment Advisors Inc. purchased a new stake in Novo Nordisk A/S during the 2nd quarter worth approximately $25,000. Gilliland Jeter Wealth Management LLC boosted its holdings in Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after purchasing an additional 120 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Novo Nordisk A/S during the 2nd quarter worth $25,000. First PREMIER Bank purchased a new stake in Novo Nordisk A/S during the 1st quarter worth about $25,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Novo Nordisk A/S in the 1st quarter valued at about $26,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO traded down $0.78 during trading on Friday, hitting $117.44. 599,539 shares of the company were exchanged, compared to its average volume of 4,281,186. 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 firm’s fifty day moving average price is $128.79 and its 200 day moving average price is $131.72. The company has a market cap of $527.02 billion, a price-to-earnings ratio of 40.77, a PEG ratio of 1.53 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued 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). The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. On average, sell-side analysts expect that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were given a $0.5126 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is presently 24.83%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NVO. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald reissued 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, BMO Capital Markets reduced their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $144.50.

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.