Novo Nordisk A/S (NYSE:NVO) Shares Sold by Redhawk Wealth Advisors Inc.

Redhawk Wealth Advisors Inc. lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 1.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,955 shares of the company’s stock after selling 372 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Novo Nordisk A/S were worth $2,257,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Compagnie Lombard Odier SCmA increased its position in shares of Novo Nordisk A/S by 1.3% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 64,545 shares of the company’s stock valued at $7,685,000 after purchasing an additional 800 shares during the period. Renaissance Investment Group LLC grew its stake in shares of Novo Nordisk A/S by 2.3% in the 3rd quarter. Renaissance Investment Group LLC now owns 41,573 shares of the company’s stock worth $4,950,000 after purchasing an additional 932 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Novo Nordisk A/S by 40.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 63,962 shares of the company’s stock worth $7,616,000 after purchasing an additional 18,370 shares in the last quarter. InTrack Investment Management Inc boosted its holdings in Novo Nordisk A/S by 17.6% during the third quarter. InTrack Investment Management Inc now owns 4,608 shares of the company’s stock worth $549,000 after buying an additional 689 shares in the last quarter. Finally, Brown Miller Wealth Management LLC grew its position in Novo Nordisk A/S by 2.9% in the third quarter. Brown Miller Wealth Management LLC now owns 4,308 shares of the company’s stock worth $512,000 after buying an additional 122 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NVO shares. BMO Capital Markets reduced their price objective on 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. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Price Performance

NYSE NVO opened at $120.04 on Monday. The company has a 50 day simple moving average of $129.39 and a 200-day simple moving average of $132.04. Novo Nordisk A/S has a 52-week low of $92.94 and a 52-week high of $148.15. The firm has a market capitalization of $538.68 billion, a price-to-earnings ratio of 41.39, a price-to-earnings-growth ratio of 1.53 and a beta of 0.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75.

Novo Nordisk A/S (NYSE:NVO) last issued 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). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Equities research analysts predict 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 declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were paid a $0.5126 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s payout ratio is 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.