Novo Nordisk A/S (NYSE:NVO) Shares Sold by Garrison Asset Management LLC

Garrison Asset Management LLC trimmed its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 3.7% in the third quarter, Holdings Channel reports. The institutional investor owned 11,050 shares of the company’s stock after selling 425 shares during the period. Garrison Asset Management LLC’s holdings in Novo Nordisk A/S were worth $1,316,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Choreo LLC raised its holdings in Novo Nordisk A/S by 16.7% during the first quarter. Choreo LLC now owns 3,627 shares of the company’s stock worth $466,000 after purchasing an additional 519 shares in the last quarter. Financial Counselors Inc. lifted its holdings in Novo Nordisk A/S by 6.0% in the first quarter. Financial Counselors Inc. now owns 12,322 shares of the company’s stock valued at $1,582,000 after acquiring an additional 700 shares during the period. Salomon & Ludwin LLC boosted its position in shares of Novo Nordisk A/S by 49.3% during the 1st quarter. Salomon & Ludwin LLC now owns 612 shares of the company’s stock worth $79,000 after purchasing an additional 202 shares in the last quarter. Mutual Advisors LLC boosted its position in shares of Novo Nordisk A/S by 3.4% during the 1st quarter. Mutual Advisors LLC now owns 27,289 shares of the company’s stock worth $3,504,000 after purchasing an additional 894 shares in the last quarter. Finally, Whittier Trust Co. grew its stake in shares of Novo Nordisk A/S by 14.2% during the 1st quarter. Whittier Trust Co. now owns 43,158 shares of the company’s stock worth $5,541,000 after purchasing an additional 5,354 shares during the period. 11.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on NVO. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday. BMO Capital Markets lowered their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $144.50.

Novo Nordisk A/S Stock Down 1.5 %

NYSE:NVO traded down $1.67 during mid-day trading on Monday, hitting $110.27. The company had a trading volume of 1,251,429 shares, compared to its average volume of 4,348,879. Novo Nordisk A/S has a 1 year low of $94.73 and a 1 year high of $148.15. The business has a fifty day simple moving average of $124.25 and a 200-day simple moving average of $130.94. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $494.84 billion, a price-to-earnings ratio of 38.34, a PEG ratio of 1.46 and a beta of 0.43.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Equities 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 business also recently disclosed 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 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.