Lake Street Advisors Group LLC Has $3.40 Million Stock Position in Novo Nordisk A/S (NYSE:NVO)

Lake Street Advisors Group LLC lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 5.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 23,795 shares of the company’s stock after selling 1,273 shares during the period. Lake Street Advisors Group LLC’s holdings in Novo Nordisk A/S were worth $3,396,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of NVO. GQG Partners LLC grew 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 buying an additional 3,151,584 shares during the last quarter. Capital International Investors grew its stake in Novo Nordisk A/S by 22.3% in the 4th quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock valued at $736,121,000 after buying an additional 1,297,536 shares during the last quarter. Acadian Asset Management LLC grew its stake in Novo Nordisk A/S by 1,300.8% in 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 last quarter. Price T Rowe Associates Inc. MD grew its stake in Novo Nordisk A/S by 10.6% in 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 last quarter. Finally, Norden Group LLC grew its position in shares of Novo Nordisk A/S by 2,456.0% during the 1st quarter. Norden Group LLC now owns 658,856 shares of the company’s stock worth $84,597,000 after purchasing an additional 633,079 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $131.23 on Friday. 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 market capitalization of $588.90 billion, a price-to-earnings ratio of 45.25, a P/E/G ratio of 1.52 and a beta of 0.42. The firm’s 50 day simple moving average is $134.79 and its 200 day simple moving average is $132.47. Novo Nordisk A/S has a 1 year low of $86.96 and a 1 year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results 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). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The company had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. As a group, research analysts expect that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced 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 currently 24.83%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price on the stock. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. BMO Capital Markets decreased their target price on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Argus increased their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, August 19th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $145.17.

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.