Gratus Wealth Advisors LLC Acquires 1,508 Shares of Novo Nordisk A/S (NYSE:NVO)

Gratus Wealth Advisors LLC boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 69.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,693 shares of the company’s stock after acquiring an additional 1,508 shares during the quarter. Gratus Wealth Advisors LLC’s holdings in Novo Nordisk A/S were worth $435,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Advisor OS LLC increased its holdings in shares of Novo Nordisk A/S by 0.6% in the second quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after purchasing an additional 82 shares in the last quarter. Cascade Financial Partners LLC raised its holdings in Novo Nordisk A/S by 2.3% during the 2nd quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock worth $543,000 after purchasing an additional 84 shares during the last quarter. Cravens & Co Advisors LLC raised its holdings in Novo Nordisk A/S by 1.0% during the 1st quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock worth $1,059,000 after purchasing an additional 85 shares during the last quarter. AA Financial Advisors LLC lifted its position in Novo Nordisk A/S by 3.2% during the 2nd quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock valued at $400,000 after purchasing an additional 86 shares during the period. Finally, Steel Grove Capital Advisors LLC boosted its stake in shares of Novo Nordisk A/S by 2.3% in the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock valued at $541,000 after purchasing an additional 86 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NVO stock opened at $117.20 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a 12-month low of $90.50 and a 12-month high of $148.15. The firm has a fifty day moving average of $130.39 and a 200-day moving average of $132.35. The firm has a market capitalization of $525.92 billion, a price-to-earnings ratio of 40.41, a price-to-earnings-growth ratio of 1.35 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last posted its 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). 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%. On average, equities research analysts forecast that Novo Nordisk A/S will post 3.11 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NVO. BMO Capital Markets reduced their price objective on shares of 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. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, September 16th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $145.17.

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.