Prospect Financial Services LLC Trims Holdings in Novo Nordisk A/S (NYSE:NVO)

Prospect Financial Services LLC lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 10.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,702 shares of the company’s stock after selling 200 shares during the period. Prospect Financial Services LLC’s holdings in Novo Nordisk A/S were worth $203,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Peak Financial Management Inc. bought a new stake in Novo Nordisk A/S during the 3rd quarter valued at approximately $283,000. Iams Wealth Management LLC boosted its position in Novo Nordisk A/S by 7.2% during the 3rd quarter. Iams Wealth Management LLC now owns 17,003 shares of the company’s stock valued at $2,025,000 after acquiring an additional 1,144 shares in the last quarter. Creative Planning boosted its position in Novo Nordisk A/S by 4.7% during the 3rd quarter. Creative Planning now owns 294,799 shares of the company’s stock valued at $35,102,000 after acquiring an additional 13,203 shares in the last quarter. Wesbanco Bank Inc. boosted its position in Novo Nordisk A/S by 35.3% during the 3rd quarter. Wesbanco Bank Inc. now owns 83,892 shares of the company’s stock valued at $9,989,000 after acquiring an additional 21,904 shares in the last quarter. Finally, Grove Bank & Trust boosted its position in Novo Nordisk A/S by 14.3% during the 3rd quarter. Grove Bank & Trust now owns 13,312 shares of the company’s stock valued at $1,585,000 after acquiring an additional 1,669 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

NVO has been the topic of several research reports. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets cut their price objective on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald reaffirmed 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. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Novo Nordisk A/S has an average rating of “Moderate Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $117.83 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average price is $129.02 and its 200-day moving average price is $131.91. Novo Nordisk A/S has a 52 week low of $92.94 and a 52 week high of $148.15. The stock has a market cap of $528.77 billion, a P/E ratio of 40.63, a P/E/G ratio of 1.53 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly 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 company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. Equities research analysts anticipate 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 disclosed a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were issued a $0.5126 dividend. The ex-dividend date was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s payout ratio is currently 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.