Bartlett & CO. Wealth Management LLC Sells 2,220 Shares of Novo Nordisk A/S (NYSE:NVO)

Bartlett & CO. Wealth Management LLC trimmed its holdings in Novo Nordisk A/S (NYSE:NVO) by 3.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 71,745 shares of the company’s stock after selling 2,220 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $8,543,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Independence Bank of Kentucky boosted its position in shares of Novo Nordisk A/S by 192.7% during the third quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock worth $1,368,000 after acquiring an additional 7,565 shares during the last quarter. Fox Hill Wealth Management boosted its holdings in shares of Novo Nordisk A/S by 121.3% during the 1st quarter. Fox Hill Wealth Management now owns 28,320 shares of the company’s stock valued at $3,636,000 after purchasing an additional 15,525 shares during the last quarter. Cetera Investment Advisers grew its position in shares of Novo Nordisk A/S by 453.3% during the first quarter. Cetera Investment Advisers now owns 265,538 shares of the company’s stock valued at $34,095,000 after purchasing an additional 217,545 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc bought a new stake in shares of Novo Nordisk A/S in the second quarter worth about $1,624,000. Finally, Salem Investment Counselors Inc. lifted its position in shares of Novo Nordisk A/S by 528.4% in the first quarter. Salem Investment Counselors Inc. now owns 13,460 shares of the company’s stock worth $1,737,000 after buying an additional 11,318 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday, October 10th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $144.50.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $118.09 on Friday. The business has a fifty day moving average of $128.48 and a 200 day moving average of $131.65. 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 market capitalization of $529.93 billion, a price-to-earnings ratio of 40.46, a price-to-earnings-growth ratio of 1.56 and a beta of 0.42. Novo Nordisk A/S has a 1 year low of $92.94 and a 1 year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued 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 firm had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. As a group, research analysts expect that Novo Nordisk A/S will post 3.01 earnings per share 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. Investors of record on Friday, August 16th were given a dividend of $0.5126 per share. The ex-dividend date was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is presently 24.66%.

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.