Lake Street Advisors Group LLC Sells 9,136 Shares of Novo Nordisk A/S (NYSE:NVO)

Lake Street Advisors Group LLC reduced its position in shares of Novo Nordisk A/S (NYSE:NVO) by 38.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,659 shares of the company’s stock after selling 9,136 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Novo Nordisk A/S were worth $1,745,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NVO. Ballentine Partners LLC increased its stake in shares of Novo Nordisk A/S by 3.5% in the 3rd quarter. Ballentine Partners LLC now owns 26,735 shares of the company’s stock valued at $3,183,000 after acquiring an additional 903 shares during the last quarter. Busey Bank boosted its position in Novo Nordisk A/S by 3.9% during the 3rd quarter. Busey Bank now owns 51,054 shares of the company’s stock worth $6,079,000 after acquiring an additional 1,895 shares during the last quarter. Harbour Trust & Investment Management Co boosted its holdings in shares of Novo Nordisk A/S by 4.7% in the 3rd quarter. Harbour Trust & Investment Management Co now owns 99,797 shares of the company’s stock valued at $11,883,000 after buying an additional 4,444 shares during the last quarter. Tectonic Advisors LLC increased its position in Novo Nordisk A/S by 6.6% during the 3rd quarter. Tectonic Advisors LLC now owns 5,512 shares of the company’s stock worth $656,000 after buying an additional 340 shares during the period. Finally, Mason & Associates Inc bought a new position in Novo Nordisk A/S during the 3rd quarter worth $245,000. 11.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Novo Nordisk A/S Trading Down 0.1 %

Shares of Novo Nordisk A/S stock traded down $0.09 during trading on Friday, hitting $113.83. The company’s stock had a trading volume of 1,419,117 shares, compared to its average volume of 4,271,650. 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 has a 52 week low of $92.94 and a 52 week high of $148.15. The stock has a market cap of $510.82 billion, a price-to-earnings ratio of 39.02, a price-to-earnings-growth ratio of 1.52 and a beta of 0.42. The stock has a 50-day moving average price of $127.52 and a two-hundred day moving average price of $131.50.

Novo Nordisk A/S (NYSE:NVO) last issued 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 during the quarter, compared to the consensus estimate of $9.91 billion. Equities research analysts anticipate that Novo Nordisk A/S will post 3.01 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were paid a $0.5126 dividend. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is 24.66%.

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.