Sendero Wealth Management LLC Has $4.08 Million Stake in Novo Nordisk A/S (NYSE:NVO)

Sendero Wealth Management LLC boosted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 18.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,271 shares of the company’s stock after purchasing an additional 5,246 shares during the period. Sendero Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $4,081,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NVO. First PREMIER Bank bought 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 in the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Novo Nordisk A/S in the 2nd quarter valued at about $25,000. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Novo Nordisk A/S during the 1st quarter worth approximately $26,000. Finally, Orion Capital Management LLC bought a new position in shares of Novo Nordisk A/S in the first quarter valued at about $26,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. BMO Capital Markets lowered their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $145.17.

Novo Nordisk A/S Price Performance

NYSE NVO traded up $0.76 during midday trading on Thursday, hitting $117.76. The company had a trading volume of 1,759,410 shares, compared to its average volume of 4,320,530. Novo Nordisk A/S has a twelve month low of $92.94 and a twelve month high of $148.15. The firm has a 50-day moving average price of $129.84 and a 200-day moving average price of $132.16. 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 company has a market capitalization of $528.45 billion, a PE ratio of 40.44, a P/E/G ratio of 1.35 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data 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). The business had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. As a group, analysts anticipate that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were issued a dividend of $0.5126 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

Novo Nordisk A/S 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.