Adamsbrown Wealth Consultants LLC Grows Position in Novo Nordisk A/S (NYSE:NVO)

Adamsbrown Wealth Consultants LLC raised its position in Novo Nordisk A/S (NYSE:NVO) by 13.8% in the third quarter, Holdings Channel reports. The fund owned 1,916 shares of the company’s stock after buying an additional 233 shares during the period. Adamsbrown Wealth Consultants LLC’s holdings in Novo Nordisk A/S were worth $228,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First PREMIER Bank purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter worth $25,000. 1620 Investment Advisors Inc. acquired a new position in shares of Novo Nordisk A/S during the 2nd quarter worth about $25,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at about $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Novo Nordisk A/S during the 1st quarter worth about $26,000. Finally, Orion Capital Management LLC purchased a new stake in Novo Nordisk A/S during the first quarter worth approximately $26,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

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

Novo Nordisk A/S Stock Performance

NVO stock traded up $0.35 on Monday, hitting $120.39. The company’s stock had a trading volume of 376,110 shares, compared to its average volume of 4,305,392. The stock has a market cap of $540.25 billion, a price-to-earnings ratio of 41.39, a price-to-earnings-growth ratio of 1.53 and a beta of 0.42. The firm has a 50 day moving average of $129.39 and a two-hundred day moving average of $132.04. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a 1 year low of $92.94 and a 1 year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data 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 net margin of 34.86% and a return on equity of 87.43%. The business had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. Equities analysts predict that Novo Nordisk A/S will post 3.01 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Shareholders 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 yield of 0.7%. Novo Nordisk A/S’s payout ratio is 24.83%.

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.