Novo Nordisk A/S (NYSE:NVO) Shares Sold by Lowe Brockenbrough & Co. Inc.

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

Other large investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its stake in Novo Nordisk A/S by 14.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock valued at $34,463,000 after acquiring an additional 37,346 shares in the last quarter. Independence Bank of Kentucky grew its stake in Novo Nordisk A/S by 192.7% during the 3rd quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock worth $1,368,000 after buying an additional 7,565 shares during the last quarter. Traynor Capital Management Inc. increased its position in Novo Nordisk A/S by 3.4% during the third quarter. Traynor Capital Management Inc. now owns 305,404 shares of the company’s stock worth $36,364,000 after buying an additional 10,019 shares during the period. Cetera Investment Advisers lifted its stake in Novo Nordisk A/S by 453.3% in the first quarter. Cetera Investment Advisers now owns 265,538 shares of the company’s stock valued at $34,095,000 after buying an additional 217,545 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Novo Nordisk A/S during the second quarter worth approximately $1,624,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analysts Set New Price Targets

NVO has been the subject of several research reports. 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 for the company in a research report on Thursday, October 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday, October 10th. Finally, StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of “Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Stock Up 0.0 %

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

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. As a group, equities research analysts predict that Novo Nordisk A/S will post 3.01 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

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