Northeast Investment Management Cuts Holdings in Novo Nordisk A/S (NYSE:NVO)

Northeast Investment Management cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 4.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,405 shares of the company’s stock after selling 155 shares during the quarter. Northeast Investment Management’s holdings in Novo Nordisk A/S were worth $293,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. WCM Investment Management LLC boosted its stake in shares of Novo Nordisk A/S by 1.0% during the 4th quarter. WCM Investment Management LLC now owns 4,031,124 shares of the company’s stock worth $345,588,000 after acquiring an additional 40,475 shares in the last quarter. Raymond James & Associates boosted its position in Novo Nordisk A/S by 1.0% during the third quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock worth $419,939,000 after purchasing an additional 36,223 shares in the last quarter. Natixis Advisors LLC grew its holdings in Novo Nordisk A/S by 2.7% in the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock valued at $366,125,000 after purchasing an additional 80,070 shares during the last quarter. International Assets Investment Management LLC grew its stake in Novo Nordisk A/S by 10,608.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after acquiring an additional 1,796,635 shares during the last quarter. Finally, LPL Financial LLC raised its position in Novo Nordisk A/S by 3.6% during the third quarter. LPL Financial LLC now owns 1,362,782 shares of the company’s stock worth $162,266,000 after acquiring an additional 47,496 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $86.39 on Friday. The company has a market capitalization 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 company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.75. Novo Nordisk A/S has a 1-year low of $78.17 and a 1-year high of $148.15. The business has a 50-day moving average of $91.46 and a 200-day moving average of $111.51.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, equities 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 declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be issued a $0.7874 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a yield of 1.2%. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio is currently 21.88%.

Analysts Set New Price Targets

A number of research firms recently issued reports on NVO. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. BMO Capital Markets lowered their price target 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. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Finally, Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S presently has an average rating of “Buy” and an average price target 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.