Quintet Private Bank Europe S.A. Boosts Holdings in Novo Nordisk A/S (NYSE:NVO)

Quintet Private Bank Europe S.A. boosted its stake in Novo Nordisk A/S (NYSE:NVO) by 17.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,065 shares of the company’s stock after acquiring an additional 1,676 shares during the period. Quintet Private Bank Europe S.A.’s holdings in Novo Nordisk A/S were worth $1,318,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Novo Nordisk A/S by 1.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock worth $607,242,000 after purchasing an additional 58,935 shares in the last quarter. GQG Partners LLC grew its holdings in Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after buying an additional 3,151,584 shares during the last quarter. Raymond James & Associates increased its position in Novo Nordisk A/S by 1.0% during the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock worth $419,939,000 after purchasing an additional 36,223 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in shares of Novo Nordisk A/S by 7.8% during the first quarter. 1832 Asset Management L.P. now owns 2,373,029 shares of the company’s stock valued at $304,697,000 after buying an additional 172,003 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 1.7 %

Shares of NVO traded down $1.93 during mid-day trading on Monday, reaching $110.01. 1,789,761 shares of the stock traded hands, compared to its average volume of 4,352,612. The stock has a fifty day simple moving average of $124.25 and a 200 day simple moving average of $130.94. Novo Nordisk A/S has a 12-month low of $94.73 and a 12-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 firm has a market cap of $493.67 billion, a price-to-earnings ratio of 37.72, a P/E/G ratio of 1.46 and a beta of 0.43.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $9.91 billion. Sell-side analysts expect that Novo Nordisk A/S will post 3.01 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NVO. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday, October 10th. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock 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.