Novo Nordisk A/S (NYSE:NVO) Shares Sold by GSB Wealth Management LLC

GSB Wealth Management LLC cut its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 8.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,424 shares of the company’s stock after selling 1,204 shares during the period. GSB Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $1,479,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. acquired a new position in shares of Novo Nordisk A/S during the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Novo Nordisk A/S during the 2nd quarter valued at about $25,000. Orion Capital Management LLC purchased a new position in Novo Nordisk A/S in the 1st quarter worth approximately $26,000. Gilliland Jeter Wealth Management LLC raised its stake in shares of 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 purchasing an additional 120 shares during the period. Finally, Halpern Financial Inc. grew its holdings in Novo Nordisk A/S by 113.0% during the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after purchasing an additional 113 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NVO. BMO Capital Markets lowered their price objective 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. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. Finally, StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average target price of $144.50.

Novo Nordisk A/S Stock Down 0.3 %

NYSE:NVO opened at $111.98 on Wednesday. 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 has a 1-year low of $94.73 and a 1-year high of $148.15. The business’s fifty day moving average price is $125.68 and its 200 day moving average price is $131.19. The firm has a market capitalization of $502.51 billion, a price-to-earnings ratio of 38.36, a PEG ratio of 1.48 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly 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 firm had revenue of $9.82 billion for 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, sell-side 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 company also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Investors 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 of this dividend was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is currently 24.66%.

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.