Eukles Asset Management Cuts Stake in Novo Nordisk A/S (NYSE:NVO)

Eukles Asset Management decreased its holdings in Novo Nordisk A/S (NYSE:NVO) by 7.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 49,645 shares of the company’s stock after selling 3,939 shares during the period. Novo Nordisk A/S makes up about 1.8% of Eukles Asset Management’s holdings, making the stock its 14th biggest holding. Eukles Asset Management’s holdings in Novo Nordisk A/S were worth $4,270,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in Novo Nordisk A/S by 10,608.4% in the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after purchasing an additional 1,796,635 shares during the last quarter. Mediolanum International Funds Ltd bought a new position in shares of Novo Nordisk A/S during the third quarter valued at about $98,765,000. DAVENPORT & Co LLC grew its stake in shares of Novo Nordisk A/S by 75.1% in the fourth quarter. DAVENPORT & Co LLC now owns 1,052,712 shares of the company’s stock worth $90,477,000 after purchasing an additional 451,641 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Novo Nordisk A/S in the 3rd quarter worth approximately $42,017,000. Finally, World Investment Advisors LLC raised its holdings in shares of Novo Nordisk A/S by 2,655.9% during the third quarter. World Investment Advisors LLC now owns 280,409 shares of the company’s stock valued at $33,388,000 after acquiring an additional 270,234 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Down 0.9 %

Shares of Novo Nordisk A/S stock opened at $86.39 on Monday. The company has a 50-day simple moving average of $91.46 and a two-hundred day simple moving average of $111.36. The stock has a market capitalization of $387.66 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 0.96 and a beta of 0.45. Novo Nordisk A/S has a 52-week low of $78.17 and a 52-week high of $148.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.75 and a current ratio of 0.74.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. On average, analysts anticipate that Novo Nordisk A/S will post 3.86 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be given a $0.7874 dividend. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date is Monday, March 31st. This represents a yield of 1.2%. Novo Nordisk A/S’s payout ratio is 21.88%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NVO. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. BMO Capital Markets reduced their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $145.25.

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.