TriaGen Wealth Management LLC Trims Position in Novo Nordisk A/S (NYSE:NVO)

TriaGen Wealth Management LLC lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 31.2% during the 3rd quarter, Holdings Channel reports. The fund owned 12,620 shares of the company’s stock after selling 5,711 shares during the quarter. TriaGen Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $1,503,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Independence Bank of Kentucky boosted its holdings in Novo Nordisk A/S by 192.7% in the third quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock valued at $1,368,000 after purchasing an additional 7,565 shares in the last quarter. Fox Hill Wealth Management boosted its holdings in Novo Nordisk A/S by 121.3% in the first quarter. Fox Hill Wealth Management now owns 28,320 shares of the company’s stock valued at $3,636,000 after purchasing an additional 15,525 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Novo Nordisk A/S by 453.3% in the first quarter. Cetera Investment Advisers now owns 265,538 shares of the company’s stock valued at $34,095,000 after acquiring an additional 217,545 shares during the period. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Novo Nordisk A/S in the second quarter valued at approximately $1,624,000. Finally, Salem Investment Counselors Inc. boosted its holdings in shares of Novo Nordisk A/S by 528.4% in the first quarter. Salem Investment Counselors Inc. now owns 13,460 shares of the company’s stock valued at $1,737,000 after acquiring an additional 11,318 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NVO has been the subject of several research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday, October 10th. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets decreased their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday. One 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 a consensus target price of $144.50.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock traded down $0.13 during trading hours on Friday, hitting $118.09. 3,193,441 shares of the company were exchanged, compared to its average volume of 4,833,489. Novo Nordisk A/S has a 1 year low of $92.94 and a 1 year high of $148.15. 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 business has a 50-day moving average of $128.48 and a 200-day moving average of $131.65. The stock has a market capitalization of $529.93 billion, a price-to-earnings ratio of 40.46, a P/E/G ratio of 1.56 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 company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. As a group, analysts expect 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 disclosed a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were given a $0.5126 dividend. This represents a yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s payout ratio is 24.66%.

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.