Novo Nordisk A/S (NYSE:NVO) Shares Sold by Avitas Wealth Management LLC

Avitas Wealth Management LLC cut its position in Novo Nordisk A/S (NYSE:NVO) by 6.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,563 shares of the company’s stock after selling 336 shares during the period. Avitas Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $543,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NVO. 1620 Investment Advisors Inc. acquired a new stake in shares of Novo Nordisk A/S in the second quarter valued at $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Novo Nordisk A/S in the second quarter valued at $25,000. Orion Capital Management LLC purchased a new position in Novo Nordisk A/S in the first quarter valued at $26,000. 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. Finally, Halpern Financial Inc. boosted its holdings in Novo Nordisk A/S by 113.0% in the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after purchasing an additional 113 shares during the period. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Up 1.1 %

Novo Nordisk A/S stock opened at $113.24 on Thursday. Novo Nordisk A/S has a fifty-two week low of $94.73 and a fifty-two week high of $148.15. 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 company has a market capitalization of $508.17 billion, a P/E ratio of 38.78, a PEG ratio of 1.48 and a beta of 0.42. The stock has a 50-day simple moving average of $125.25 and a 200-day simple moving average of $131.06.

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

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were issued 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 currently 24.66%.

Analyst Ratings Changes

A number of research analysts recently issued reports on NVO shares. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. BMO Capital Markets decreased 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, October 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday, October 10th. One investment 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Company 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.