Summit Global Investments Has $818,000 Position in Novo Nordisk A/S (NYSE:NVO)

Summit Global Investments reduced its holdings in Novo Nordisk A/S (NYSE:NVO) by 73.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,513 shares of the company’s stock after selling 26,771 shares during the quarter. Summit Global Investments’ holdings in Novo Nordisk A/S were worth $818,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of NVO. Raymond James Financial Inc. acquired a new position in Novo Nordisk A/S in the fourth quarter valued at approximately $404,910,000. Sustainable Growth Advisers LP lifted its holdings in Novo Nordisk A/S by 23.6% in the fourth quarter. Sustainable Growth Advisers LP now owns 5,340,803 shares of the company’s stock valued at $459,416,000 after buying an additional 1,021,498 shares during the period. Amundi lifted its holdings in Novo Nordisk A/S by 26.4% in the fourth quarter. Amundi now owns 3,311,456 shares of the company’s stock valued at $283,615,000 after buying an additional 692,567 shares during the period. Parnassus Investments LLC acquired a new position in Novo Nordisk A/S in the fourth quarter valued at approximately $51,072,000. Finally, DAVENPORT & Co LLC lifted its holdings in 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 valued at $90,477,000 after buying an additional 451,641 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Down 2.4 %

Shares of NVO stock opened at $76.88 on Monday. The firm has a fifty day moving average of $83.34 and a 200-day moving average of $100.74. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. Novo Nordisk A/S has a 12-month low of $73.80 and a 12-month high of $148.15. The company has a market capitalization of $344.98 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 0.90 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research 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 business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be given a dividend of $0.7874 per share. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date of this dividend is Monday, March 31st. This represents a dividend yield of 1.2%. Novo Nordisk A/S’s dividend payout ratio is currently 47.72%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NVO. Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. 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 target price on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Finally, BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.