Dynamic Advisor Solutions LLC Has $3.24 Million Stake in Novo Nordisk A/S (NYSE:NVO)

Dynamic Advisor Solutions LLC reduced its position in Novo Nordisk A/S (NYSE:NVO) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,237 shares of the company’s stock after selling 812 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Novo Nordisk A/S were worth $3,243,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. First PREMIER Bank acquired a new stake in Novo Nordisk A/S during the 1st quarter worth about $25,000. 1620 Investment Advisors Inc. acquired a new stake in Novo Nordisk A/S during the second quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Novo Nordisk A/S in the second quarter valued at approximately $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Novo Nordisk A/S in the first quarter valued at approximately $26,000. Finally, Orion Capital Management LLC bought a new position in shares of Novo Nordisk A/S during the 1st quarter worth approximately $26,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Trading Down 0.5 %

NYSE:NVO opened at $117.20 on Wednesday. Novo Nordisk A/S has a one year low of $90.50 and a one year high of $148.15. The company has a market cap of $525.92 billion, a PE ratio of 40.41, a PEG ratio of 1.35 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 has a 50-day moving average of $130.39 and a 200-day moving average of $132.35.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 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 company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. As a group, equities research analysts expect that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Stockholders 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 payout ratio is 24.83%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NVO. 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 Monday, September 16th. BMO Capital Markets reduced their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.17.

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.