Integrated Advisors Network LLC Lowers Stake in Novo Nordisk A/S (NYSE:NVO)

Integrated Advisors Network LLC trimmed its position in Novo Nordisk A/S (NYSE:NVO) by 48.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,327 shares of the company’s stock after selling 11,373 shares during the quarter. Integrated Advisors Network LLC’s holdings in Novo Nordisk A/S were worth $1,468,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC grew its stake in Novo Nordisk A/S by 12.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 313,291 shares of the company’s stock worth $40,227,000 after buying an additional 33,463 shares during the period. Kovack Advisors Inc. purchased a new stake in Novo Nordisk A/S during the 1st quarter worth $810,000. Willis Johnson & Associates Inc. acquired a new stake in Novo Nordisk A/S in the 1st quarter valued at $216,000. Ashton Thomas Private Wealth LLC raised its position in Novo Nordisk A/S by 19.5% in the first quarter. Ashton Thomas Private Wealth LLC now owns 14,536 shares of the company’s stock valued at $1,866,000 after purchasing an additional 2,374 shares during the period. Finally, J.W. Cole Advisors Inc. lifted its stake in shares of Novo Nordisk A/S by 39.7% during the first quarter. J.W. Cole Advisors Inc. now owns 9,231 shares of the company’s stock worth $1,183,000 after purchasing an additional 2,623 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Up 1.1 %

NVO stock opened at $113.24 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The firm has a 50 day simple moving average of $125.25 and a 200-day simple moving average of $131.06. 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. Novo Nordisk A/S has a twelve month low of $94.73 and a twelve month high of $148.15.

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). The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. On average, equities research 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 company also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued 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 dividend payout ratio is presently 24.66%.

Analysts Set New Price Targets

NVO has been the topic of several analyst reports. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Cantor Fitzgerald reiterated 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, BMO Capital Markets decreased their target price 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. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.