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

Weatherly Asset Management L. P. lowered its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 11.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its stake in shares of 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 buying an additional 37,346 shares during the period. Independence Bank of Kentucky lifted its position in shares of Novo Nordisk A/S by 192.7% in the 3rd quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock worth $1,368,000 after acquiring an additional 7,565 shares during the period. Traynor Capital Management Inc. increased its position in shares of 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 valued at $36,364,000 after purchasing an additional 10,019 shares during the period. Cetera Investment Advisers raised its stake in shares of 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 purchasing an additional 217,545 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc bought a new position in Novo Nordisk A/S in the second quarter worth $1,624,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Trading Down 0.0 %

Shares of NVO stock opened at $111.94 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $502.33 billion, a P/E ratio of 38.34, a P/E/G ratio of 1.46 and a beta of 0.43. Novo Nordisk A/S has a 12-month low of $94.73 and a 12-month high of $148.15. The firm has a 50-day moving average price of $124.25 and a 200 day moving average price of $130.90.

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 analysts’ consensus estimates of $0.71 by ($0.06). The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. Research analysts forecast that Novo Nordisk A/S will post 3.01 earnings per share 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. Stockholders of record on Friday, August 16th were issued a dividend of $0.5126 per share. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s payout ratio is presently 24.66%.

Analyst Ratings Changes

A number of equities analysts have recently commented on NVO shares. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. Finally, BMO Capital Markets decreased their price objective 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 investment 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, the stock currently has an average rating of “Buy” and an average price target of $144.50.

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.