Lowe Brockenbrough & Co. Inc. Reduces Stock Position in Novo Nordisk A/S (NYSE:NVO)

Lowe Brockenbrough & Co. Inc. trimmed its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,782 shares of the company’s stock after selling 468 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Novo Nordisk A/S were worth $3,903,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Americana Partners LLC raised its holdings in Novo Nordisk A/S by 5.2% during the third quarter. Americana Partners LLC now owns 51,931 shares of the company’s stock worth $6,183,000 after purchasing an additional 2,563 shares during the last quarter. Lebenthal Global Advisors LLC increased its position in shares of Novo Nordisk A/S by 95.7% in the third quarter. Lebenthal Global Advisors LLC now owns 15,603 shares of the company’s stock valued at $1,858,000 after buying an additional 7,629 shares in the last quarter. Focus Financial Network Inc. raised its stake in shares of Novo Nordisk A/S by 2.9% during the 3rd quarter. Focus Financial Network Inc. now owns 8,120 shares of the company’s stock worth $967,000 after buying an additional 227 shares during the last quarter. Principal Securities Inc. boosted its position in shares of Novo Nordisk A/S by 1.7% in the 3rd quarter. Principal Securities Inc. now owns 41,787 shares of the company’s stock worth $4,976,000 after buying an additional 708 shares in the last quarter. Finally, Stephens Inc. AR grew its stake in Novo Nordisk A/S by 31.0% in the 3rd quarter. Stephens Inc. AR now owns 158,881 shares of the company’s stock valued at $18,918,000 after acquiring an additional 37,585 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NVO. BMO Capital Markets reduced their price target 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. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Stock Up 0.0 %

Shares of NYSE NVO opened at $111.96 on Friday. The firm has a market cap of $502.42 billion, a P/E ratio of 38.34, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. Novo Nordisk A/S has a 1 year low of $94.73 and a 1 year high of $148.15. The firm’s 50 day moving average price is $124.25 and its 200 day moving average price is $130.85.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly 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). The business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 3.01 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

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

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.