Avitas Wealth Management LLC Lowers Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Avitas Wealth Management LLC lowered its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 6.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,563 shares of the company’s stock after selling 336 shares during the quarter. Avitas Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $543,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NVO. GQG Partners LLC boosted its position in Novo Nordisk A/S by 654.6% during the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after purchasing an additional 3,151,584 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Novo Nordisk A/S by 10,608.4% in the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after acquiring an additional 1,796,635 shares in the last quarter. DSM Capital Partners LLC lifted its position in shares of Novo Nordisk A/S by 257,816.0% in the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after acquiring an additional 1,593,303 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Novo Nordisk A/S by 1,300.8% in the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock valued at $159,703,000 after acquiring an additional 1,155,313 shares in the last quarter. Finally, Mediolanum International Funds Ltd purchased a new position in shares of Novo Nordisk A/S in the third quarter valued at approximately $98,765,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NYSE:NVO opened at $113.24 on Thursday. Novo Nordisk A/S has a one year low of $94.73 and a one year high of $148.15. 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 stock has a market cap of $508.17 billion, a PE ratio of 38.78, a P/E/G ratio of 1.48 and a beta of 0.42. The stock has a 50 day moving average price of $125.25 and a 200 day moving average price of $131.06.

Novo Nordisk A/S (NYSE:NVO) last posted 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 business 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%. Equities research analysts expect that Novo Nordisk A/S will post 3.01 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were paid 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%.

Analyst Upgrades and Downgrades

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