Stratos Wealth Advisors LLC Increases Position in Novo Nordisk A/S $NVO

Stratos Wealth Advisors LLC lifted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 26.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 3,928 shares of the company’s stock after buying an additional 832 shares during the period. Stratos Wealth Advisors LLC’s holdings in Novo Nordisk A/S were worth $271,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Kingstone Capital Partners Texas LLC raised its stake in Novo Nordisk A/S by 301,443.6% during the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock worth $690,560,000 after purchasing an additional 10,001,898 shares during the period. Folketrygdfondet raised its stake in Novo Nordisk A/S by 6.9% during the first quarter. Folketrygdfondet now owns 9,521,912 shares of the company’s stock worth $661,202,000 after purchasing an additional 617,974 shares during the period. Goldman Sachs Group Inc. raised its stake in Novo Nordisk A/S by 11.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company’s stock worth $395,291,000 after purchasing an additional 576,900 shares during the period. Sustainable Growth Advisers LP raised its stake in Novo Nordisk A/S by 3.8% during the first quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company’s stock worth $384,923,000 after purchasing an additional 202,443 shares during the period. Finally, Nuveen LLC purchased a new position in Novo Nordisk A/S during the first quarter worth approximately $370,272,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on NVO. Rothschild Redb raised shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 16th. Hsbc Global Res raised shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. BMO Capital Markets reaffirmed a “market perform” rating and set a $55.00 price target (up previously from $50.00) on shares of Novo Nordisk A/S in a research note on Tuesday, October 14th. Wall Street Zen downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Morgan Stanley downgraded shares of Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and cut their target price for the company from $59.00 to $47.00 in a research note on Monday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.00.

Novo Nordisk A/S Price Performance

NVO opened at $55.78 on Tuesday. The company has a fifty day simple moving average of $56.36 and a 200 day simple moving average of $62.64. The firm has a market cap of $249.04 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 2.50 and a beta of 0.68. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $117.96. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. Equities research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were issued a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 22.53%.

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.