Wedmont Private Capital Buys 809 Shares of Novo Nordisk A/S (NYSE:NVO)

Wedmont Private Capital raised its holdings in Novo Nordisk A/S (NYSE:NVO) by 7.8% during the third quarter, Holdings Channel.com reports. The fund owned 11,120 shares of the company’s stock after purchasing an additional 809 shares during the period. Wedmont Private Capital’s holdings in Novo Nordisk A/S were worth $1,310,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NVO. GQG Partners LLC boosted its stake in Novo Nordisk A/S by 654.6% in the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after acquiring an additional 3,151,584 shares during the last quarter. DSM Capital Partners LLC boosted its stake in Novo Nordisk A/S by 257,816.0% in the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after acquiring an additional 1,593,303 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Novo Nordisk A/S by 1,300.8% in the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock valued at $159,703,000 after acquiring an additional 1,155,313 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Novo Nordisk A/S by 10.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after acquiring an additional 823,036 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in Novo Nordisk A/S by 34,472.1% in the second quarter. Marshall Wace LLP now owns 691,441 shares of the company’s stock valued at $98,696,000 after acquiring an additional 689,441 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Trading Up 0.5 %

Shares of NYSE NVO opened at $117.57 on Friday. Novo Nordisk A/S has a twelve month low of $92.94 and a twelve month high of $148.15. 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 company’s fifty day moving average is $129.84 and its 200-day moving average is $132.16. The stock has a market cap of $527.60 billion, a price-to-earnings ratio of 40.26, 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 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 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 analyst estimates of $9.91 billion. Equities research analysts predict that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were issued 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 24.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Thursday. 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 on the stock in a research report on Thursday, August 8th. Finally, StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.