Harbour Trust & Investment Management Co Lowers Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Harbour Trust & Investment Management Co decreased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 14.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,066 shares of the company’s stock after selling 14,731 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Novo Nordisk A/S were worth $7,317,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. CRA Financial Services LLC lifted its stake in shares of Novo Nordisk A/S by 4.4% in the third quarter. CRA Financial Services LLC now owns 2,742 shares of the company’s stock worth $326,000 after buying an additional 116 shares in the last quarter. Brown Miller Wealth Management LLC raised its holdings in Novo Nordisk A/S by 2.9% in the 3rd quarter. Brown Miller Wealth Management LLC now owns 4,308 shares of the company’s stock worth $512,000 after acquiring an additional 122 shares during the last quarter. InTrack Investment Management Inc lifted its position in Novo Nordisk A/S by 17.6% in the 3rd quarter. InTrack Investment Management Inc now owns 4,608 shares of the company’s stock valued at $549,000 after acquiring an additional 689 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Novo Nordisk A/S by 40.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 63,962 shares of the company’s stock worth $7,616,000 after purchasing an additional 18,370 shares in the last quarter. Finally, Renaissance Investment Group LLC raised its stake in shares of Novo Nordisk A/S by 2.3% in the third quarter. Renaissance Investment Group LLC now owns 41,573 shares of the company’s stock worth $4,950,000 after purchasing an additional 932 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Performance

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

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

Novo Nordisk A/S Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.7874 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a yield of 1.2%. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 21.88%.

Analysts Set New Price Targets

Several research firms recently commented on NVO. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. BMO Capital Markets decreased their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report 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. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Finally, UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $145.25.

About Novo Nordisk A/S

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.