Cutter & CO Brokerage Inc. Has $33.55 Million Stock Position in Novo Nordisk A/S (NYSE:NVO)

Cutter & CO Brokerage Inc. trimmed its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 0.8% during the third quarter, Holdings Channel reports. The institutional investor owned 281,795 shares of the company’s stock after selling 2,383 shares during the period. Novo Nordisk A/S makes up about 7.6% of Cutter & CO Brokerage Inc.’s holdings, making the stock its 2nd largest position. Cutter & CO Brokerage Inc.’s holdings in Novo Nordisk A/S were worth $33,553,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. 1620 Investment Advisors Inc. acquired a new position in Novo Nordisk A/S during the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Novo Nordisk A/S during the second quarter valued at approximately $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Novo Nordisk A/S during the first quarter valued at approximately $26,000. Orion Capital Management LLC bought a new stake in Novo Nordisk A/S during the first quarter worth approximately $26,000. Finally, Gilliland Jeter Wealth Management LLC grew its position in Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after buying an additional 120 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Down 0.1 %

Novo Nordisk A/S stock traded down $0.12 during mid-day trading on Tuesday, hitting $112.24. The company’s stock had a trading volume of 387,480 shares, compared to its average volume of 4,274,362. Novo Nordisk A/S has a 52-week low of $94.73 and a 52-week high of $148.15. The company has a market cap of $503.68 billion, a PE ratio of 38.49, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The firm’s 50 day moving average is $126.16 and its 200 day moving average is $131.28.

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 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 during the quarter, compared to analysts’ expectations of $9.91 billion. On average, 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 business also recently announced 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 dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 24.66%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NVO. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday, October 10th. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets decreased their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.50.

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.