Tyche Wealth Partners LLC Sells 3,021 Shares of Novo Nordisk A/S (NYSE:NVO)

Tyche Wealth Partners LLC lowered its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 47.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,365 shares of the company’s stock after selling 3,021 shares during the period. Tyche Wealth Partners LLC’s holdings in Novo Nordisk A/S were worth $401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. 1620 Investment Advisors Inc. bought a new position in shares of Novo Nordisk A/S during the second quarter valued at about $25,000. Strategic Investment Solutions Inc. IL purchased a new position in Novo Nordisk A/S in the 2nd quarter worth approximately $25,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in Novo Nordisk A/S in the 1st quarter worth approximately $26,000. Orion Capital Management LLC bought a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at $26,000. Finally, Gilliland Jeter Wealth Management LLC grew its position in shares of Novo Nordisk A/S by 200.0% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after acquiring an additional 120 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. 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. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets decreased their target price 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. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $144.50.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock traded down $0.04 during trading on Tuesday, hitting $112.32. 3,127,563 shares of the company’s stock were exchanged, compared to its average volume of 4,287,473. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The business has a 50-day simple moving average of $126.16 and a 200-day simple moving average of $131.28. Novo Nordisk A/S has a 52-week low of $94.73 and a 52-week high of $148.15. The stock has a market capitalization of $504.04 billion, a price-to-earnings ratio of 38.53, a PEG ratio of 1.48 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last announced its 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 during the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. On average, research analysts forecast that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued a dividend of $0.5126 per share. This represents a yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 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.