Novo Nordisk A/S (NYSE:NVO) Holdings Lowered by Advisory Services Network LLC

Advisory Services Network LLC trimmed its stake in shares of Novo Nordisk A/S (NYSE:NVOGet Rating) by 6.5% during the first quarter, Holdings Channel reports. The institutional investor owned 14,933 shares of the company’s stock after selling 1,042 shares during the period. Advisory Services Network LLC’s holdings in Novo Nordisk A/S were worth $1,658,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Castellan Group raised its position in shares of Novo Nordisk A/S by 11.5% during the 1st quarter. Castellan Group now owns 31,925 shares of the company’s stock worth $3,545,000 after buying an additional 3,305 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of Novo Nordisk A/S by 275.5% in the first quarter. Neuberger Berman Group LLC now owns 17,312 shares of the company’s stock worth $1,923,000 after acquiring an additional 12,702 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in shares of Novo Nordisk A/S by 30.6% in the first quarter. Chicago Partners Investment Group LLC now owns 12,155 shares of the company’s stock worth $1,258,000 after acquiring an additional 2,847 shares in the last quarter. Capital World Investors increased its position in shares of Novo Nordisk A/S by 6.6% in the first quarter. Capital World Investors now owns 35,961 shares of the company’s stock worth $4,047,000 after acquiring an additional 2,239 shares in the last quarter. Finally, Range Financial Group LLC purchased a new position in shares of Novo Nordisk A/S in the first quarter worth approximately $834,000. 6.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NVO. Morgan Stanley upgraded shares of Novo Nordisk A/S from an “equal weight” rating to an “overweight” rating in a research note on Friday, July 15th. Guggenheim raised shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, May 31st. UBS Group lowered shares of Novo Nordisk A/S from a “neutral” rating to a “sell” rating in a report on Tuesday, June 28th. Exane BNP Paribas raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a 750.00 price target on the stock in a report on Monday, June 27th. Finally, BNP Paribas raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $750.00 target price on the stock in a report on Monday, June 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $682.43.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $101.42 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.74 and a debt-to-equity ratio of 0.32. Novo Nordisk A/S has a 1 year low of $91.51 and a 1 year high of $122.16. The company has a market cap of $229.51 billion, a PE ratio of 30.27, a PEG ratio of 1.81 and a beta of 0.47. The company’s 50-day moving average is $108.40 and its two-hundred day moving average is $109.43.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, August 23rd. Investors of record on Monday, August 15th were given a $0.5836 dividend. The ex-dividend date was Friday, August 12th. This represents a dividend yield of 1.1%. Novo Nordisk A/S’s dividend payout ratio is 24.18%.

Novo Nordisk A/S Profile

(Get Rating)

Novo Nordisk A/S, a healthcare company, engages in the research, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes and Obesity care, and Biopharm. The Diabetes and Obesity care segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral antidiabetic products, obesity, and other chronic diseases.

Further Reading

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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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