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

Lake Street Advisors Group LLC lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 5.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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.

Other hedge funds also recently modified their holdings of the company. First PREMIER Bank acquired a new position in shares of Novo Nordisk A/S during the first quarter worth $25,000. 1620 Investment Advisors Inc. bought a new position in Novo Nordisk A/S during the second quarter worth $25,000. Dixon Mitchell Investment Counsel Inc. bought a new position in Novo Nordisk A/S during the first quarter worth $26,000. Orion Capital Management LLC bought a new position in Novo Nordisk A/S during the first quarter worth $26,000. Finally, Gilliland Jeter Wealth Management LLC raised its stake in Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after buying an additional 120 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 0.3 %

NVO opened at $131.23 on Friday. Novo Nordisk A/S has a 1-year low of $86.96 and a 1-year high of $148.15. 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 company has a market cap of $588.90 billion, a P/E ratio of 45.25, a price-to-earnings-growth ratio of 1.52 and a beta of 0.42. The company has a fifty day moving average price of $134.79 and a two-hundred day moving average price of $132.47.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly 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). The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. Analysts predict that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were given 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 payout ratio is presently 24.83%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NVO shares. Argus lifted 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 note on Monday, June 10th. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 target price for the company. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 19th. BMO Capital Markets lowered their target price on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, August 19th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $145.17.

About Novo Nordisk A/S

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.