Novo Nordisk A/S (NYSE:NVO) Stake Boosted by Quintet Private Bank Europe S.A.

Quintet Private Bank Europe S.A. raised its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 17.9% in the 3rd quarter, Holdings Channel reports. The firm owned 11,065 shares of the company’s stock after purchasing an additional 1,676 shares during the quarter. Quintet Private Bank Europe S.A.’s holdings in Novo Nordisk A/S were worth $1,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. 1620 Investment Advisors Inc. bought a new position in shares of Novo Nordisk A/S during the second quarter valued at approximately $25,000. Gilliland Jeter Wealth Management LLC grew its stake in Novo Nordisk A/S by 200.0% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after buying an additional 120 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Novo Nordisk A/S during the second quarter valued at $25,000. Orion Capital Management LLC bought a new position in shares of Novo Nordisk A/S during the first quarter worth about $26,000. Finally, Halpern Financial Inc. increased its holdings in shares of Novo Nordisk A/S by 113.0% in the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock worth $30,000 after acquiring an additional 113 shares during the period. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Price Performance

NVO stock traded down $1.93 on Monday, hitting $110.01. 1,789,761 shares of the company’s stock traded hands, compared to its average volume of 4,352,612. 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 stock has a market cap of $493.67 billion, a price-to-earnings ratio of 37.72, a P/E/G ratio of 1.46 and a beta of 0.43. Novo Nordisk A/S has a 1-year low of $94.73 and a 1-year high of $148.15. The stock has a fifty day moving average of $124.25 and a 200-day moving average of $130.94.

Novo Nordisk A/S (NYSE:NVO) last announced its 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). 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 analysts’ expectations of $9.91 billion. On average, analysts forecast that Novo Nordisk A/S will post 3.01 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given a dividend of $0.5126 per share. This represents a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s payout ratio is 24.66%.

Analyst Upgrades and Downgrades

NVO has been the subject of several recent analyst reports. BMO Capital Markets decreased their target price 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 reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. Finally, StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $144.50.

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.