Navellier & Associates Inc. Sells 113,383 Shares of Novo Nordisk A/S (NYSE:NVO)

Navellier & Associates Inc. reduced its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 95.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,082 shares of the company’s stock after selling 113,383 shares during the quarter. Navellier & Associates Inc.’s holdings in Novo Nordisk A/S were worth $437,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Country Club Bank boosted its stake in Novo Nordisk A/S by 11.3% in the 3rd quarter. Country Club Bank now owns 1,837 shares of the company’s stock valued at $222,000 after purchasing an additional 187 shares during the period. Highland Capital Management LLC bought a new stake in Novo Nordisk A/S in the 3rd quarter valued at $1,488,000. Allworth Financial LP boosted its stake in Novo Nordisk A/S by 3.5% in the 3rd quarter. Allworth Financial LP now owns 31,502 shares of the company’s stock valued at $3,751,000 after purchasing an additional 1,062 shares during the period. NorthCrest Asset Manangement LLC boosted its stake in Novo Nordisk A/S by 3.1% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 11,168 shares of the company’s stock valued at $1,330,000 after purchasing an additional 331 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Novo Nordisk A/S by 14.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock valued at $34,463,000 after purchasing an additional 37,346 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $88.07 on Monday. The stock has a market capitalization of $395.19 billion, a PE ratio of 26.77, a P/E/G ratio of 0.90 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 0.55. The business has a fifty day moving average price of $86.01 and a two-hundred day moving average price of $107.99. Novo Nordisk A/S has a fifty-two week low of $77.82 and a fifty-two week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, topping 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 predict that Novo Nordisk A/S will post 3.84 earnings per share 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. Stockholders 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 represents a dividend yield of 1.2%. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s payout ratio is 21.88%.

Wall Street Analyst Weigh In

NVO has been the subject of several recent research reports. Morgan Stanley initiated coverage on Novo Nordisk A/S in a research note on Wednesday, February 12th. They issued an “equal weight” rating for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a 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, BMO Capital Markets dropped their price objective on 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. Two investment analysts have 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $145.25.

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.