Garrison Asset Management LLC Sells 425 Shares of Novo Nordisk A/S (NYSE:NVO)

Garrison Asset Management LLC decreased its holdings in Novo Nordisk A/S (NYSE:NVO) by 3.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,050 shares of the company’s stock after selling 425 shares during the period. Garrison Asset Management LLC’s holdings in Novo Nordisk A/S were worth $1,316,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in NVO. 1620 Investment Advisors Inc. purchased a new stake in Novo Nordisk A/S during the 2nd quarter worth approximately $25,000. Gilliland Jeter Wealth Management LLC increased its holdings in shares of Novo Nordisk A/S by 200.0% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after purchasing an additional 120 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at $25,000. Orion Capital Management LLC purchased a new stake in Novo Nordisk A/S during the first quarter worth $26,000. Finally, Halpern Financial Inc. grew its position in Novo Nordisk A/S by 113.0% during the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after buying an additional 113 shares during the period. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Trading Down 1.5 %

Novo Nordisk A/S stock traded down $1.67 during mid-day trading on Monday, hitting $110.27. The company’s stock had a trading volume of 1,251,429 shares, compared to its average volume of 4,348,879. Novo Nordisk A/S has a 1 year low of $94.73 and a 1 year high of $148.15. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $494.84 billion, a PE ratio of 38.34, a price-to-earnings-growth ratio of 1.46 and a beta of 0.43. The stock’s fifty day moving average is $124.25 and its two-hundred day moving average is $130.94.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly 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). The business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. On average, analysts anticipate that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were given a $0.5126 dividend. This represents a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is currently 24.66%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NVO. BMO Capital Markets decreased their price objective on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Thursday, October 10th. Finally, StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $144.50.

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.