FineMark National Bank & Trust Reduces Holdings in Novo Nordisk A/S (NYSE:NVO)

FineMark National Bank & Trust decreased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 48.6% during the fourth quarter, HoldingsChannel reports. The fund owned 2,603 shares of the company’s stock after selling 2,463 shares during the quarter. FineMark National Bank & Trust’s holdings in Novo Nordisk A/S were worth $224,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NVO. Center for Financial Planning Inc. raised its position in Novo Nordisk A/S by 72.4% in the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after purchasing an additional 123 shares during the period. Daiwa Securities Group Inc. purchased a new stake in shares of Novo Nordisk A/S in the third quarter worth approximately $28,000. Albion Financial Group UT lifted its stake in shares of Novo Nordisk A/S by 121.4% during the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock worth $44,000 after acquiring an additional 278 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in Novo Nordisk A/S by 82.1% during the 4th quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock valued at $46,000 after acquiring an additional 243 shares during the period. Finally, Hager Investment Management Services LLC bought a new position in Novo Nordisk A/S in the 4th quarter valued at $46,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO opened at $71.74 on Thursday. The firm has a 50 day moving average of $82.78 and a 200 day moving average of $99.75. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $321.94 billion, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42. Novo Nordisk A/S has a 52 week low of $70.39 and a 52 week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, topping the consensus estimate 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%. On average, sell-side 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 company also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be given a dividend of $0.7874 per share. This represents a dividend yield of 1.2%. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio is presently 47.72%.

Wall Street Analyst Weigh In

NVO has been the subject of several research analyst reports. Stifel Nicolaus downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. BMO Capital Markets lowered 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 research report on Monday, December 23rd. Kepler Capital Markets raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Morgan Stanley started coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an “equal weight” rating for the company. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Friday, March 21st. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.