Novo Nordisk A/S (NYSE:NVO) Shares Bought by Allworth Financial LP

Allworth Financial LP grew its stake in Novo Nordisk A/S (NYSE:NVO) by 3.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 31,502 shares of the company’s stock after buying an additional 1,062 shares during the quarter. Allworth Financial LP’s holdings in Novo Nordisk A/S were worth $3,751,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Highland Capital Management LLC purchased a new stake in Novo Nordisk A/S during the third quarter worth approximately $1,488,000. Convergence Financial LLC increased its holdings in shares of Novo Nordisk A/S by 41.0% in the third quarter. Convergence Financial LLC now owns 11,151 shares of the company’s stock valued at $1,328,000 after purchasing an additional 3,243 shares during the period. Country Club Bank increased its holdings in shares of Novo Nordisk A/S by 11.3% in the third quarter. Country Club Bank now owns 1,837 shares of the company’s stock valued at $222,000 after purchasing an additional 187 shares during the period. Capital Management Associates Inc increased its holdings in shares of Novo Nordisk A/S by 3.7% in the third quarter. Capital Management Associates Inc now owns 3,299 shares of the company’s stock valued at $393,000 after purchasing an additional 119 shares during the period. Finally, Bank of Stockton increased its holdings in shares of Novo Nordisk A/S by 22.8% in the third quarter. Bank of Stockton now owns 7,652 shares of the company’s stock valued at $911,000 after purchasing an additional 1,420 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

NVO has been the topic of a number of recent analyst reports. 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. 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. 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 equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $113.38 on Friday. The business’s 50-day moving average price is $126.61 and its 200 day moving average price is $131.32. Novo Nordisk A/S has a twelve month low of $92.94 and a twelve month high of $148.15. The company has a market capitalization of $508.80 billion, a PE ratio of 39.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46.

Novo Nordisk A/S (NYSE:NVO) last announced 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). The firm 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%. On average, research analysts predict that Novo Nordisk A/S will post 3.01 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were paid a $0.5126 dividend. 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 currently 24.83%.

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.