Novo Nordisk A/S (NYSE:NVO) Shares Sold by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC reduced its position in Novo Nordisk A/S (NYSE:NVO) by 4.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,504 shares of the company’s stock after selling 108 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Novo Nordisk A/S were worth $259,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NVO. Cornerstone Planning Group LLC purchased a new position in Novo Nordisk A/S during the 2nd quarter worth $29,000. Tower Research Capital LLC TRC grew its holdings in shares of Novo Nordisk A/S by 165.3% during the first quarter. Tower Research Capital LLC TRC now owns 199 shares of the company’s stock worth $32,000 after buying an additional 124 shares during the last quarter. Pacific Center for Financial Services raised its stake in Novo Nordisk A/S by 100.0% during the 3rd quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. Valued Wealth Advisors LLC acquired a new stake in Novo Nordisk A/S during the 4th quarter worth approximately $28,000. Finally, Copeland Capital Management LLC grew its stake in shares of Novo Nordisk A/S by 100.0% in the 3rd quarter. Copeland Capital Management LLC now owns 282 shares of the company’s stock valued at $26,000 after purchasing an additional 141 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on NVO. UBS Group started coverage on Novo Nordisk A/S in a report on Tuesday, January 16th. They set a “neutral” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, March 20th. TD Cowen increased their price target on shares of Novo Nordisk A/S from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Monday, December 4th. Finally, Morgan Stanley initiated coverage on Novo Nordisk A/S in a report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price objective on the stock. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.25.

Novo Nordisk A/S Price Performance

Shares of NVO traded up $0.60 during trading hours on Thursday, reaching $128.65. The company had a trading volume of 2,919,455 shares, compared to its average volume of 5,220,022. The company has a market capitalization of $577.32 billion, a price-to-earnings ratio of 47.87, a PEG ratio of 2.13 and a beta of 0.41. Novo Nordisk A/S has a 12-month low of $75.56 and a 12-month high of $138.28. The firm has a 50 day simple moving average of $121.34 and a 200-day simple moving average of $104.22. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.19.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The company had revenue of $9.51 billion during the quarter, compared to analysts’ expectations of $9.14 billion. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. Research analysts expect that Novo Nordisk A/S will post 3.35 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Tuesday, April 2nd. Shareholders of record on Monday, March 25th will be issued a $0.664 dividend. This is a positive change from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. The ex-dividend date of this dividend is Friday, March 22nd. This represents a yield of 0.9%. Novo Nordisk A/S’s dividend payout ratio is 49.17%.

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.