Novo Nordisk A/S $NVO Shares Newly Purchased by WESPAC Advisors LLC

WESPAC Advisors LLC bought a new position in Novo Nordisk A/S (NYSE:NVO) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 18,088 shares of the company’s stock, valued at approximately $686,000.

Other large investors have also added to or reduced their stakes in the company. Verdence Capital Advisors LLC lifted its holdings in shares of Novo Nordisk A/S by 10.1% in the third quarter. Verdence Capital Advisors LLC now owns 10,654 shares of the company’s stock worth $404,000 after buying an additional 979 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its position in shares of Novo Nordisk A/S by 20.1% in the third quarter. Kingswood Wealth Advisors LLC now owns 12,790 shares of the company’s stock valued at $485,000 after acquiring an additional 2,144 shares during the period. Samalin Investment Counsel LLC grew its stake in Novo Nordisk A/S by 9.4% during the third quarter. Samalin Investment Counsel LLC now owns 18,953 shares of the company’s stock valued at $719,000 after acquiring an additional 1,632 shares in the last quarter. Sowell Financial Services LLC grew its stake in Novo Nordisk A/S by 38.6% during the third quarter. Sowell Financial Services LLC now owns 14,270 shares of the company’s stock valued at $541,000 after acquiring an additional 3,975 shares in the last quarter. Finally, Gibbs Wealth Management increased its holdings in Novo Nordisk A/S by 25.2% during the 3rd quarter. Gibbs Wealth Management now owns 45,190 shares of the company’s stock worth $1,713,000 after acquiring an additional 9,083 shares during the period. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $39.12 on Tuesday. Novo Nordisk A/S has a 12-month low of $35.12 and a 12-month high of $64.16. The company has a current ratio of 0.87, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55. The company has a market cap of $174.67 billion, a PE ratio of 9.56, a price-to-earnings-growth ratio of 1.33 and a beta of 0.76. The stock has a 50-day moving average price of $41.91 and a 200-day moving average price of $44.81.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $0.94 earnings per share for the quarter. The company had revenue of $11.98 billion for the quarter. Novo Nordisk A/S had a net margin of 35.36% and a return on equity of 58.61%. As a group, equities analysts forecast that Novo Nordisk A/S will post 3.42 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a dividend, which was paid on Tuesday, August 25th. Shareholders of record on Monday, August 17th were given a dividend of $0.5786 per share. The ex-dividend date was Monday, August 17th. This is a drop from Novo Nordisk A/S’s previous dividend of $1.2751. This represents a yield of 258.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 20.05%.

Wall Street Analysts Forecast Growth

NVO has been the subject of several analyst reports. UBS Group reissued a “neutral” rating on shares of Novo Nordisk A/S in a report on Monday, September 21st. Barclays reaffirmed a “neutral” rating on shares of Novo Nordisk A/S in a report on Monday, September 7th. Berenberg Bank reaffirmed a “neutral” rating on shares of Novo Nordisk A/S in a report on Monday, September 21st. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Novo Nordisk A/S in a research report on Tuesday, September 29th. Finally, Zacks Research raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.44.

About Novo Nordisk A/S

Novo Nordisk A/S is a Danish pharmaceutical company headquartered in Bagsværd, Denmark. The company focuses on developing and manufacturing medicines and delivery systems for chronic diseases, with a primary emphasis on diabetes and obesity care.

Novo Nordisk offers a broad portfolio of insulin products, as well as glucagon-like peptide-1 (GLP-1) medicines used in diabetes management and weight treatment. Its well-known products include Ozempic and Rybelsus for type 2 diabetes, Wegovy for chronic weight management, and several modern and human insulin products.