Annex Advisory Services LLC Reduces Holdings in Novo Nordisk A/S (NYSE:NVO)

Annex Advisory Services LLC decreased its holdings in Novo Nordisk A/S (NYSE:NVO) by 46.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,833 shares of the company’s stock after selling 4,150 shares during the quarter. Annex Advisory Services LLC’s holdings in Novo Nordisk A/S were worth $575,000 at the end of the most recent reporting period.

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

Novo Nordisk A/S Trading Up 2.1 %

NVO stock opened at $120.04 on Monday. The firm has a fifty day moving average price of $129.39 and a 200 day moving average price of $132.04. Novo Nordisk A/S has a fifty-two week low of $92.94 and a fifty-two 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 firm has a market cap of $538.68 billion, a PE ratio of 41.39, a price-to-earnings-growth ratio of 1.53 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share 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 analysts’ expectations of $9.91 billion. Sell-side analysts anticipate that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Upgrades and Downgrades

NVO has been the topic of several recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Thursday. BMO Capital Markets reduced 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. 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, October 9th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.17.

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.