Novo Nordisk A/S (NYSE:NVO) Stock Position Lifted by Brown Lisle Cummings Inc.

Brown Lisle Cummings Inc. raised its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 16.7% during the third quarter, Holdings Channel reports. The firm owned 50,195 shares of the company’s stock after buying an additional 7,200 shares during the quarter. Novo Nordisk A/S makes up approximately 1.8% of Brown Lisle Cummings Inc.’s portfolio, making the stock its 10th biggest position. Brown Lisle Cummings Inc.’s holdings in Novo Nordisk A/S were worth $5,977,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Advisor OS LLC grew its position in shares of Novo Nordisk A/S by 0.6% in the 2nd quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock worth $1,994,000 after buying an additional 82 shares during the period. Cascade Financial Partners LLC grew its position in shares of Novo Nordisk A/S by 2.3% in the 2nd quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock worth $543,000 after buying an additional 84 shares during the period. Novare Capital Management LLC grew its position in shares of Novo Nordisk A/S by 3.2% in the 3rd quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock worth $325,000 after buying an additional 85 shares during the period. AA Financial Advisors LLC grew its position in shares of Novo Nordisk A/S by 3.2% in the 2nd quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock worth $400,000 after buying an additional 86 shares during the period. Finally, Steel Grove Capital Advisors LLC grew its position 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 worth $541,000 after buying an additional 86 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

NVO opened at $118.09 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The stock has a market capitalization of $529.93 billion, a P/E ratio of 40.44, a P/E/G ratio of 1.56 and a beta of 0.42. The company’s 50-day simple moving average is $128.48 and its two-hundred day simple moving average is $131.72. Novo Nordisk A/S has a 52-week low of $92.94 and a 52-week high of $148.15.

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 the consensus estimate of $0.71 by ($0.06). The company had revenue of $9.82 billion for the quarter, compared to the consensus estimate 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 predict that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were paid a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.66%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in 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 report on Thursday, October 10th. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, BMO Capital Markets cut their price objective on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $144.50.

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.