Sound Income Strategies LLC Has $35,000 Stake in Novo Nordisk A/S (NYSE:NVO)

Sound Income Strategies LLC decreased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 73.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 296 shares of the company’s stock after selling 828 shares during the period. Sound Income Strategies LLC’s holdings in Novo Nordisk A/S were worth $35,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of NVO. Renaissance Investment Group LLC grew its stake in shares of Novo Nordisk A/S by 2.3% during the third quarter. Renaissance Investment Group LLC now owns 41,573 shares of the company’s stock valued at $4,950,000 after purchasing an additional 932 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Novo Nordisk A/S by 40.3% during the third quarter. Exchange Traded Concepts LLC now owns 63,962 shares of the company’s stock worth $7,616,000 after buying an additional 18,370 shares during the last quarter. InTrack Investment Management Inc grew its holdings in Novo Nordisk A/S by 17.6% during the third quarter. InTrack Investment Management Inc now owns 4,608 shares of the company’s stock valued at $549,000 after purchasing an additional 689 shares during the period. Brown Miller Wealth Management LLC increased its position in shares of Novo Nordisk A/S by 2.9% in the 3rd quarter. Brown Miller Wealth Management LLC now owns 4,308 shares of the company’s stock valued at $512,000 after buying an additional 122 shares in the last quarter. Finally, CRA Financial Services LLC increased its holdings in shares of Novo Nordisk A/S by 4.4% in the third quarter. CRA Financial Services LLC now owns 2,742 shares of the company’s stock worth $326,000 after acquiring an additional 116 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 0.2 %

NVO stock opened at $119.77 on Tuesday. Novo Nordisk A/S has a 52 week low of $92.94 and a 52 week high of $148.15. 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 company’s 50-day simple moving average is $129.26 and its 200 day simple moving average is $131.98. The company has a market capitalization of $537.47 billion, a PE ratio of 41.30, a price-to-earnings-growth ratio of 1.53 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.06). The company had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 3.01 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is presently 24.83%.

Wall Street Analysts Forecast Growth

NVO has been the topic of several research reports. BMO Capital Markets cut 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 research report on Thursday, August 8th. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Thursday, October 10th. One investment 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 currently has an average rating of “Moderate Buy” and an average target price 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.