NBC Securities Inc. Cuts Stock Position in Novo Nordisk A/S (NYSE:NVO)

NBC Securities Inc. cut its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 3.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,094 shares of the company’s stock after selling 399 shares during the period. NBC Securities Inc.’s holdings in Novo Nordisk A/S were worth $1,201,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NVO. First PREMIER Bank purchased a new position in Novo Nordisk A/S in the 1st quarter valued at approximately $25,000. 1620 Investment Advisors Inc. purchased a new position in Novo Nordisk A/S in the second quarter valued at $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Novo Nordisk A/S during the 2nd quarter worth $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Novo Nordisk A/S during the 1st quarter worth about $26,000. Finally, Orion Capital Management LLC acquired a new stake in Novo Nordisk A/S in the 1st quarter valued at about $26,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $117.83 on Wednesday. The stock’s 50-day moving average is $129.02 and its two-hundred day moving average is $131.91. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. Novo Nordisk A/S has a 1 year low of $92.94 and a 1 year high of $148.15. The firm has a market cap of $528.77 billion, a price-to-earnings ratio of 40.63, a PEG ratio of 1.53 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). 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. Analysts predict that Novo Nordisk A/S will post 3.01 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given a $0.5126 dividend. This represents a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

Analyst Ratings Changes

A number of brokerages have recently commented on NVO. Cantor Fitzgerald reissued 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. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets reduced their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.17.

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.