Novo Nordisk A/S (NYSE:NVO) Shares Bought by Prossimo Advisors LLC

Prossimo Advisors LLC raised its holdings in Novo Nordisk A/S (NYSE:NVO) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,472 shares of the company’s stock after acquiring an additional 142 shares during the period. Novo Nordisk A/S makes up approximately 0.8% of Prossimo Advisors LLC’s investment portfolio, making the stock its 28th largest position. Prossimo Advisors LLC’s holdings in Novo Nordisk A/S were worth $1,128,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its holdings in Novo Nordisk A/S by 14.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock valued at $34,463,000 after acquiring an additional 37,346 shares during the last quarter. Independence Bank of Kentucky grew its stake in shares of Novo Nordisk A/S by 192.7% in the 3rd quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock valued at $1,368,000 after buying an additional 7,565 shares during the period. Traynor Capital Management Inc. grew its stake in shares of Novo Nordisk A/S by 3.4% in the 3rd quarter. Traynor Capital Management Inc. now owns 305,404 shares of the company’s stock valued at $36,364,000 after buying an additional 10,019 shares during the period. Cetera Investment Advisers grew its stake in shares of Novo Nordisk A/S by 453.3% in the 1st quarter. Cetera Investment Advisers now owns 265,538 shares of the company’s stock valued at $34,095,000 after buying an additional 217,545 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of Novo Nordisk A/S in the 2nd quarter valued at approximately $1,624,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $111.94 on Friday. 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 market capitalization of $502.33 billion, a P/E ratio of 38.34, a PEG ratio of 1.46 and a beta of 0.43. The company has a 50 day moving average price of $124.25 and a 200 day moving average price of $130.90. Novo Nordisk A/S has a fifty-two week low of $94.73 and a fifty-two week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted 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). The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. Equities research analysts forecast that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Upgrades and Downgrades

NVO has been the subject of several analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. BMO Capital Markets dropped their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Buy” and a consensus 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.