Prime Capital Investment Advisors LLC Reduces Holdings in Novo Nordisk A/S (NYSE:NVO)

Prime Capital Investment Advisors LLC lowered its position in Novo Nordisk A/S (NYSE:NVO) by 13.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 73,688 shares of the company’s stock after selling 11,423 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Novo Nordisk A/S were worth $10,518,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NVO. 1620 Investment Advisors Inc. purchased a new position in shares of Novo Nordisk A/S in the second quarter worth about $25,000. Gilliland Jeter Wealth Management LLC lifted its stake in Novo Nordisk A/S by 200.0% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares in the last quarter. First PREMIER Bank acquired a new position in shares of Novo Nordisk A/S during the 1st quarter worth approximately $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Novo Nordisk A/S during the 1st quarter worth approximately $26,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Novo Nordisk A/S in the first quarter valued at approximately $26,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $137.00 on Friday. Novo Nordisk A/S has a fifty-two week low of $86.96 and a fifty-two week 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 company has a 50 day moving average price of $134.03 and a 200 day moving average price of $132.94. The stock has a market capitalization of $614.79 billion, a P/E ratio of 47.24, a PEG ratio of 1.48 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last released 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 analysts’ expectations 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 forecast that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared 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 presently 24.83%.

Analysts Set New Price Targets

A number of brokerages recently commented on NVO. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday, September 9th. BMO Capital Markets dropped their price target on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Argus lifted their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective for the company. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $145.17.

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.