Surience Private Wealth LLC Sells 25,929 Shares of Novo Nordisk A/S (NYSE:NVO)

Surience Private Wealth LLC lowered its position in Novo Nordisk A/S (NYSE:NVO) by 92.7% in the third quarter, Holdings Channel.com reports. The fund owned 2,050 shares of the company’s stock after selling 25,929 shares during the period. Novo Nordisk A/S makes up 0.2% of Surience Private Wealth LLC’s investment portfolio, making the stock its 27th largest holding. Surience Private Wealth LLC’s holdings in Novo Nordisk A/S were worth $244,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Sweeney & Michel LLC bought a new position in Novo Nordisk A/S during the third quarter worth about $221,000. Foundations Investment Advisors LLC boosted its stake in Novo Nordisk A/S by 10.5% in the 3rd quarter. Foundations Investment Advisors LLC now owns 136,565 shares of the company’s stock valued at $16,261,000 after buying an additional 12,928 shares in the last quarter. Ledyard National Bank grew its position in Novo Nordisk A/S by 6.2% in the third quarter. Ledyard National Bank now owns 4,285 shares of the company’s stock valued at $510,000 after acquiring an additional 250 shares during the period. Whittier Trust Co. raised its stake in Novo Nordisk A/S by 2.5% during the third quarter. Whittier Trust Co. now owns 45,796 shares of the company’s stock worth $5,453,000 after acquiring an additional 1,115 shares in the last quarter. Finally, Carolina Wealth Advisors LLC bought a new stake in shares of Novo Nordisk A/S in the 3rd quarter worth about $48,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 1.1 %

Novo Nordisk A/S stock traded down $1.27 during trading hours on Tuesday, reaching $116.06. 1,475,328 shares of the company’s stock traded hands, compared to its average volume of 4,274,455. Novo Nordisk A/S has a fifty-two week low of $92.94 and a fifty-two week high of $148.15. The firm’s 50 day moving average is $128.23 and its 200-day moving average is $131.67. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The firm has a market capitalization of $520.82 billion, a price-to-earnings ratio of 40.02, a PEG ratio of 1.56 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued 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 business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. On average, 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 announced a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were given a dividend of $0.5126 per share. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s payout ratio is currently 24.83%.

Analysts Set New Price Targets

Several brokerages have recently commented on NVO. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday, October 10th. Finally, BMO Capital Markets lowered their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $144.50.

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.