Lake Street Advisors Group LLC Has $1.75 Million Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Lake Street Advisors Group LLC cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 38.4% in the third quarter, according to its most recent Form 13F filing with the Securities & 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 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NVO. 1620 Investment Advisors Inc. bought a new position in shares of Novo Nordisk A/S in the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Novo Nordisk A/S in the second quarter valued at approximately $25,000. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Novo Nordisk A/S in the first quarter valued at approximately $26,000. Orion Capital Management LLC bought a new position in shares of Novo Nordisk A/S in the first quarter valued at approximately $26,000. Finally, Gilliland Jeter Wealth Management LLC raised its position in shares of Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after purchasing an additional 120 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NVO shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, BMO Capital Markets dropped their target price on shares of 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. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $144.50.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock traded down $0.09 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 firm has a market cap of $510.82 billion, a P/E ratio of 39.02, a price-to-earnings-growth ratio of 1.52 and a beta of 0.42. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company has a fifty day moving average price of $127.52 and a 200-day moving average price of $131.50. Novo Nordisk A/S has a one year low of $92.94 and a one year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) 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 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 declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given a dividend of $0.5126 per share. The ex-dividend date was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) 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.