Weatherly Asset Management L. P. Sells 300 Shares of Novo Nordisk A/S (NYSE:NVO)

Weatherly Asset Management L. P. decreased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 11.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,282 shares of the company’s stock after selling 300 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Novo Nordisk A/S were worth $272,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Choreo LLC boosted its holdings in Novo Nordisk A/S by 16.7% in the first quarter. Choreo LLC now owns 3,627 shares of the company’s stock valued at $466,000 after acquiring an additional 519 shares during the last quarter. Lincoln National Corp boosted its stake in shares of Novo Nordisk A/S by 10.1% in the 1st quarter. Lincoln National Corp now owns 26,128 shares of the company’s stock valued at $3,355,000 after purchasing an additional 2,394 shares during the last quarter. Graypoint LLC grew its position in shares of Novo Nordisk A/S by 15.1% during the 1st quarter. Graypoint LLC now owns 4,424 shares of the company’s stock worth $568,000 after buying an additional 582 shares during the period. FinTrust Capital Advisors LLC raised its stake in shares of Novo Nordisk A/S by 13.2% during the first quarter. FinTrust Capital Advisors LLC now owns 2,136 shares of the company’s stock worth $274,000 after buying an additional 249 shares during the last quarter. Finally, Centerpoint Advisors LLC lifted its holdings in Novo Nordisk A/S by 655.7% in the first quarter. Centerpoint Advisors LLC now owns 2,305 shares of the company’s stock valued at $296,000 after buying an additional 2,000 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Performance

NVO stock opened at $111.94 on Friday. Novo Nordisk A/S has a 1-year low of $94.73 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 firm has a market cap of $502.33 billion, a PE ratio of 38.34, a P/E/G ratio of 1.46 and a beta of 0.43. The business’s 50-day moving average price is $124.25 and its two-hundred day moving average price is $130.90.

Novo Nordisk A/S (NYSE:NVO) last released 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 net margin of 34.86% and a return on equity of 87.43%. The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. As a group, research analysts forecast 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. Stockholders of record on Friday, August 16th were issued a $0.5126 dividend. 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 (DPR) is presently 24.66%.

Analysts Set New Price Targets

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

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.