Novo Nordisk A/S (NYSE:NVO) Shares Sold by Covestor Ltd

Covestor Ltd decreased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 9.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,907 shares of the company’s stock after selling 198 shares during the quarter. Covestor Ltd’s holdings in Novo Nordisk A/S were worth $164,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Center for Financial Planning Inc. raised its stake 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 acquiring an additional 123 shares during the last quarter. Albion Financial Group UT raised its stake in shares of Novo Nordisk A/S by 121.4% in the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock worth $44,000 after purchasing an additional 278 shares during the last quarter. Hager Investment Management Services LLC acquired a new stake in shares of Novo Nordisk A/S during the fourth quarter worth about $46,000. Sound Income Strategies LLC increased its holdings in Novo Nordisk A/S by 82.1% in the 4th quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock worth $46,000 after buying an additional 243 shares during the period. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in Novo Nordisk A/S during the 4th quarter worth approximately $47,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Down 6.1 %

Novo Nordisk A/S stock opened at $61.12 on Friday. Novo Nordisk A/S has a 12 month low of $59.32 and a 12 month high of $148.15. The stock has a market capitalization of $274.26 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 0.90 and a beta of 0.61. 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 50 day simple moving average of $78.23 and a 200-day simple moving average of $93.98.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping 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, analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st were given a $0.7874 dividend. This represents a dividend yield of 1.2%. The ex-dividend date was Monday, March 31st. 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 (DPR) is 49.54%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NVO shares. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Monday. Morgan Stanley initiated coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They set an “equal weight” rating on the stock. Kepler Capital Markets upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. BMO Capital Markets lowered their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Finally, Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and a consensus 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.