My Legacy Advisors LLC Decreases Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

My Legacy Advisors LLC cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 15.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,828 shares of the company’s stock after selling 1,209 shares during the quarter. My Legacy Advisors LLC’s holdings in Novo Nordisk A/S were worth $813,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NVO. Folketrygdfondet raised its position in shares of Novo Nordisk A/S by 1.4% during the 1st quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock valued at $1,124,275,000 after buying an additional 124,770 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Novo Nordisk A/S by 10.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after purchasing an additional 823,036 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Novo Nordisk A/S by 1.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock valued at $607,242,000 after purchasing an additional 58,935 shares during the last quarter. GQG Partners LLC raised its holdings in Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after buying an additional 3,151,584 shares during the period. Finally, Raymond James & Associates lifted its position in Novo Nordisk A/S by 1.0% in the third quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock worth $419,939,000 after buying an additional 36,223 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 0.8 %

NYSE:NVO traded down $0.97 during mid-day trading on Tuesday, reaching $116.36. The company’s stock had a trading volume of 3,070,987 shares, compared to its average volume of 4,282,817. The firm has a market capitalization of $522.17 billion, a PE ratio of 40.02, a price-to-earnings-growth ratio of 1.56 and a beta of 0.42. The stock has a fifty day moving average of $128.23 and a 200-day moving average of $131.67. 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 has a 1 year low of $92.94 and a 1 year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. Equities 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 company also recently announced 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 payout ratio is 24.83%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NVO. BMO Capital Markets reduced 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 note on Thursday, October 17th. 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, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.50.

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.