Bay Colony Advisory Group Inc d b a Bay Colony Advisors Sells 2,261 Shares of Novo Nordisk A/S (NYSE:NVO)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 14.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,677 shares of the company’s stock after selling 2,261 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Novo Nordisk A/S were worth $1,629,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. 1620 Investment Advisors Inc. bought a new stake in shares of Novo Nordisk A/S during the 2nd quarter valued at about $25,000. Gilliland Jeter Wealth Management LLC increased its holdings in Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after buying an additional 120 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Novo Nordisk A/S in the second quarter worth approximately $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Novo Nordisk A/S during the 1st quarter worth $26,000. Finally, Orion Capital Management LLC bought a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at $26,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Trading Down 1.0 %

NYSE NVO traded down $1.16 during trading hours on Monday, hitting $112.22. 745,947 shares of the company were exchanged, compared to its average volume of 4,270,885. The stock has a 50-day moving average price of $126.61 and a 200 day moving average price of $131.37. 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 52 week low of $94.73 and a 52 week high of $148.15. The stock has a market cap of $503.59 billion, a PE ratio of 39.10, a price-to-earnings-growth ratio of 1.52 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). 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 analysts’ expectations of $9.91 billion. 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. Shareholders 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 dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NVO. Cantor Fitzgerald reiterated 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. BMO Capital Markets lowered 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. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.