Stegent Equity Advisors Inc. Boosts Stock Position in Novo Nordisk A/S (NYSE:NVO)

Stegent Equity Advisors Inc. grew its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 65.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,233 shares of the company’s stock after buying an additional 6,820 shares during the period. Novo Nordisk A/S accounts for about 2.3% of Stegent Equity Advisors Inc.’s holdings, making the stock its 12th largest holding. Stegent Equity Advisors Inc.’s holdings in Novo Nordisk A/S were worth $2,052,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Independence Bank of Kentucky boosted its holdings in Novo Nordisk A/S by 192.7% in the third quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock valued at $1,368,000 after purchasing an additional 7,565 shares in the last quarter. Fox Hill Wealth Management boosted its holdings in shares of Novo Nordisk A/S by 121.3% in the 1st quarter. Fox Hill Wealth Management now owns 28,320 shares of the company’s stock valued at $3,636,000 after buying an additional 15,525 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Novo Nordisk A/S by 453.3% in the 1st quarter. Cetera Investment Advisers now owns 265,538 shares of the company’s stock valued at $34,095,000 after buying an additional 217,545 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc acquired a new stake in Novo Nordisk A/S during the 2nd quarter worth $1,624,000. Finally, Salem Investment Counselors Inc. lifted its position in Novo Nordisk A/S by 528.4% in the first quarter. Salem Investment Counselors Inc. now owns 13,460 shares of the company’s stock valued at $1,737,000 after acquiring an additional 11,318 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NVO has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. BMO Capital Markets cut their price target on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average target price of $144.50.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock traded down $0.13 during trading hours on Friday, reaching $118.09. 3,193,441 shares of the stock were exchanged, compared to its average volume of 4,833,489. Novo Nordisk A/S has a 52-week low of $92.94 and a 52-week high of $148.15. The stock has a market cap of $529.93 billion, a P/E ratio of 40.44, a P/E/G ratio of 1.56 and a beta of 0.42. 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’s 50 day moving average is $128.48 and its 200 day moving average is $131.69.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Analysts predict that Novo Nordisk A/S will post 3.01 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were paid a $0.5126 dividend. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.66%.

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.