Brookstone Capital Management Sells 186 Shares of Novo Nordisk A/S (NYSE:NVO)

Brookstone Capital Management decreased its position in Novo Nordisk A/S (NYSE:NVO) by 1.1% during the third quarter, HoldingsChannel.com reports. The firm 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 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NVO. First PREMIER Bank bought a new position in Novo Nordisk A/S in the 1st quarter worth about $25,000. 1620 Investment Advisors Inc. bought a new position in Novo Nordisk A/S in the 2nd quarter worth about $25,000. Strategic Investment Solutions Inc. IL bought a new position in Novo Nordisk A/S in the 2nd quarter worth about $25,000. Dixon Mitchell Investment Counsel Inc. bought a new position in Novo Nordisk A/S in the 1st quarter worth about $26,000. Finally, Orion Capital Management LLC bought a new position in Novo Nordisk A/S in the 1st quarter worth about $26,000. Institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NVO. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday. Finally, BMO Capital Markets decreased their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S Price Performance

NYSE NVO opened at $120.04 on Friday. Novo Nordisk A/S has a 52 week low of $92.94 and a 52 week high of $148.15. The firm has a market capitalization of $538.68 billion, a P/E ratio of 41.11, a PEG ratio of 1.53 and a beta of 0.42. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $129.39 and a 200-day moving average price of $132.00.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $9.91 billion. Equities research analysts anticipate 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 declared a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were given 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 payout ratio is currently 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.