Brookstone Capital Management Decreases Holdings in Novo Nordisk A/S (NYSE:NVO)

Brookstone Capital Management cut its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,408 shares of the company’s stock after selling 186 shares during the quarter. Brookstone Capital Management’s holdings in Novo Nordisk A/S were worth $1,954,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Optimist Retirement Group LLC purchased a new position in shares of Novo Nordisk A/S in the fourth quarter worth $233,000. PCA Investment Advisory Services Inc. purchased a new position in shares of Novo Nordisk A/S in the fourth quarter worth $210,000. Burford Brothers Inc. purchased a new position in shares of Novo Nordisk A/S in the fourth quarter worth $1,045,000. Sunpointe LLC purchased a new position in shares of Novo Nordisk A/S in the fourth quarter worth $661,000. Finally, Prospect Financial Services LLC purchased a new position in shares of Novo Nordisk A/S in the fourth quarter worth $242,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NVO. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Thursday. 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 report on Thursday, August 8th. Finally, StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. One equities research 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, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Stock Up 2.1 %

Shares of Novo Nordisk A/S stock opened at $120.04 on Friday. 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’s fifty day simple moving average is $129.39 and its two-hundred day simple moving average is $132.00. The company has a market cap of $538.68 billion, a P/E ratio of 41.11, a PEG ratio of 1.53 and a beta of 0.42. Novo Nordisk A/S has a 12-month low of $92.94 and a 12-month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $9.91 billion. Research analysts anticipate that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced 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. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.66%.

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.