Prio Wealth Limited Partnership Decreases Stock Position in Novo Nordisk A/S (NYSE:NVO)

Prio Wealth Limited Partnership lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 1.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 199,113 shares of the company’s stock after selling 2,785 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Novo Nordisk A/S were worth $23,708,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NVO. GQG Partners LLC raised its holdings in Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after buying an additional 3,151,584 shares during the period. DSM Capital Partners LLC raised its holdings in Novo Nordisk A/S by 257,816.0% during the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after buying an additional 1,593,303 shares during the period. Acadian Asset Management LLC raised its holdings in Novo Nordisk A/S by 1,300.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock valued at $159,703,000 after buying an additional 1,155,313 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Novo Nordisk A/S by 10.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after buying an additional 823,036 shares during the period. Finally, Marshall Wace LLP raised its holdings in Novo Nordisk A/S by 34,472.1% during the 2nd quarter. Marshall Wace LLP now owns 691,441 shares of the company’s stock valued at $98,696,000 after buying an additional 689,441 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NVO shares. BMO Capital Markets reduced their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research note on Thursday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note 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 analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Stock Down 0.6 %

Shares of Novo Nordisk A/S stock traded down $0.73 during trading on Monday, hitting $117.36. 970,146 shares of the stock traded hands, compared to its average volume of 4,276,775. The firm has a market cap of $526.66 billion, a P/E ratio of 40.18, a price-to-earnings-growth ratio of 1.56 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a 52-week low of $92.94 and a 52-week high of $148.15. The stock’s fifty day simple moving average is $128.48 and its 200 day simple moving average is $131.72.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.06). The firm had revenue of $9.82 billion for 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, equities analysts predict that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business 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 of this dividend was Friday, August 16th. Novo Nordisk A/S’s payout ratio is currently 24.66%.

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.