Novo Nordisk A/S (NYSE:NVO) Shares Sold by LGL Partners LLC

LGL Partners LLC decreased its holdings in Novo Nordisk A/S (NYSE:NVO) by 17.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,773 shares of the company’s stock after selling 782 shares during the quarter. LGL Partners LLC’s holdings in Novo Nordisk A/S were worth $325,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. DAVENPORT & Co LLC raised its stake in shares of Novo Nordisk A/S by 75.1% during the 4th quarter. DAVENPORT & Co LLC now owns 1,052,712 shares of the company’s stock worth $90,477,000 after buying an additional 451,641 shares during the period. Wellington Management Group LLP purchased a new stake in Novo Nordisk A/S in the 3rd quarter worth $42,017,000. DSM Capital Partners LLC raised its position in Novo Nordisk A/S by 16.7% during the fourth quarter. DSM Capital Partners LLC now owns 2,007,412 shares of the company’s stock worth $172,678,000 after acquiring an additional 286,912 shares during the period. World Investment Advisors LLC lifted its holdings in Novo Nordisk A/S by 2,655.9% during the third quarter. World Investment Advisors LLC now owns 280,409 shares of the company’s stock valued at $33,388,000 after purchasing an additional 270,234 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Novo Nordisk A/S by 53.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 729,965 shares of the company’s stock valued at $63,183,000 after purchasing an additional 254,475 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NVO stock opened at $90.94 on Wednesday. Novo Nordisk A/S has a 1 year low of $77.82 and a 1 year high of $148.15. 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 firm has a market capitalization of $408.07 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45. The business has a 50 day simple moving average of $85.32 and a 200-day simple moving average of $107.42.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts anticipate 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 announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.7874 per share. The ex-dividend date is Monday, March 31st. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a yield of 1.2%. Novo Nordisk A/S’s payout ratio is 47.72%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Morgan Stanley initiated coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They set an “equal weight” rating for the company. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, 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. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.