Novo Nordisk A/S (NYSE:NVO) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 5.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,547 shares of the company’s stock after buying an additional 3,989 shares during the period. CIBC Asset Management Inc’s holdings in Novo Nordisk A/S were worth $6,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Pittenger & Anderson Inc. increased its stake in Novo Nordisk A/S by 5.8% during the fourth quarter. Pittenger & Anderson Inc. now owns 60,453 shares of the company’s stock worth $5,200,000 after acquiring an additional 3,291 shares during the last quarter. Raelipskie Partnership increased its position in shares of Novo Nordisk A/S by 23.8% during the 4th quarter. Raelipskie Partnership now owns 15,618 shares of the company’s stock worth $1,343,000 after purchasing an additional 3,000 shares during the last quarter. NTV Asset Management LLC raised its holdings in Novo Nordisk A/S by 2.9% in the 4th quarter. NTV Asset Management LLC now owns 9,206 shares of the company’s stock valued at $792,000 after buying an additional 256 shares during the period. Sanctuary Advisors LLC lifted its position in Novo Nordisk A/S by 4.1% in the fourth quarter. Sanctuary Advisors LLC now owns 304,856 shares of the company’s stock valued at $26,016,000 after buying an additional 11,967 shares during the last quarter. Finally, AlphaCentric Advisors LLC purchased a new position in Novo Nordisk A/S during the fourth quarter worth about $2,007,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Up 1.3 %

Novo Nordisk A/S stock opened at $83.38 on Thursday. The firm has a market capitalization of $374.18 billion, a P/E ratio of 25.34, a P/E/G ratio of 0.84 and a beta of 0.45. The stock’s fifty day simple moving average is $86.89 and its 200-day simple moving average is $108.66. Novo Nordisk A/S has a twelve month low of $77.82 and a twelve month high of $148.15. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results 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 return on equity of 84.68% and a net margin of 34.81%. As a group, equities analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be paid a $0.7874 dividend. The ex-dividend date 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 payout ratio is currently 21.88%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NVO. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price target 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. Finally, StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average target price 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.