Baker Tilly Wealth Management LLC Sells 2,873 Shares of Novo Nordisk A/S (NYSE:NVO)

Baker Tilly Wealth Management LLC reduced its stake in Novo Nordisk A/S (NYSE:NVO) by 21.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,318 shares of the company’s stock after selling 2,873 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $1,229,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. GQG Partners LLC boosted its stake in Novo Nordisk A/S by 654.6% in the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after purchasing an additional 3,151,584 shares during the period. International Assets Investment Management LLC boosted its position in shares of Novo Nordisk A/S by 10,608.4% in the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after acquiring an additional 1,796,635 shares during the period. DSM Capital Partners LLC grew its stake in shares of Novo Nordisk A/S by 257,816.0% in the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after acquiring an additional 1,593,303 shares in the last quarter. Acadian Asset Management LLC increased its position in Novo Nordisk A/S by 1,300.8% during the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock worth $159,703,000 after acquiring an additional 1,155,313 shares during the period. Finally, Mediolanum International Funds Ltd acquired a new stake in Novo Nordisk A/S in the 3rd quarter worth about $98,765,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NVO shares. BMO Capital Markets lowered their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Stock Down 0.7 %

Shares of NVO opened at $112.53 on Monday. The firm has a 50 day simple moving average of $126.61 and a two-hundred day simple moving average of $131.37. The company has a market cap of $504.98 billion, a P/E ratio of 39.10, a P/E/G ratio of 1.52 and a beta of 0.42. Novo Nordisk A/S has a one year low of $94.73 and a one year high of $148.15. 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 (NYSE:NVO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $9.91 billion. Research analysts forecast that Novo Nordisk A/S will post 3.01 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

About Novo Nordisk A/S

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.