Steward Partners Investment Advisory LLC Trims Stock Position in Novo Nordisk A/S (NYSE:NVO)

Steward Partners Investment Advisory LLC cut its stake in Novo Nordisk A/S (NYSE:NVO) by 28.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 128,980 shares of the company’s stock after selling 52,490 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Novo Nordisk A/S were worth $11,095,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Natixis Advisors LLC increased its stake in Novo Nordisk A/S by 2.7% during the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after acquiring an additional 80,070 shares during the last quarter. Norman Fields Gottscho Capital Management LLC boosted its stake in shares of Novo Nordisk A/S by 45.3% in the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company’s stock valued at $5,482,000 after purchasing an additional 19,870 shares during the period. Bryn Mawr Capital Management LLC grew its stake in shares of Novo Nordisk A/S by 358.8% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 38,898 shares of the company’s stock valued at $3,346,000 after acquiring an additional 30,420 shares in the last quarter. Versant Capital Management Inc acquired a new stake in Novo Nordisk A/S during the 4th quarter valued at approximately $86,000. Finally, Talbot Financial LLC purchased a new stake in Novo Nordisk A/S during the 4th quarter worth approximately $4,066,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have 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. BMO Capital Markets cut their target price on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Finally, BNP Paribas raised 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, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Price Performance

NYSE:NVO opened at $87.39 on Wednesday. Novo Nordisk A/S has a 52-week low of $77.82 and a 52-week high of $148.15. 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 firm has a market cap of $392.17 billion, a P/E ratio of 26.56, a PEG ratio of 0.90 and a beta of 0.45. The business’s 50-day moving average price is $84.84 and its 200 day moving average price is $105.85.

Novo Nordisk A/S (NYSE:NVO) last released its 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 net margin of 34.81% and a return on equity of 84.68%. As a group, 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 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 paid a dividend of $0.7874 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a dividend yield of 1.2%. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 47.72%.

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.