Novo Nordisk A/S (NYSE:NVO) Position Lessened by Everett Harris & Co. CA

Everett Harris & Co. CA cut its stake in Novo Nordisk A/S (NYSE:NVO) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,512,789 shares of the company’s stock after selling 26,413 shares during the period. Novo Nordisk A/S accounts for approximately 9.6% of Everett Harris & Co. CA’s portfolio, making the stock its 3rd largest position. Everett Harris & Co. CA’s holdings in Novo Nordisk A/S were worth $673,748,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Westside Investment Management Inc. boosted its holdings in Novo Nordisk A/S by 83.3% in the third quarter. Westside Investment Management Inc. now owns 1,428 shares of the company’s stock worth $130,000 after purchasing an additional 649 shares during the last quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD purchased a new stake in shares of Novo Nordisk A/S in the 3rd quarter worth $2,408,000. Lazard Asset Management LLC increased its position in Novo Nordisk A/S by 182.2% in the third quarter. Lazard Asset Management LLC now owns 1,494,214 shares of the company’s stock worth $135,883,000 after buying an additional 964,640 shares in the last quarter. Benedict Financial Advisors Inc. raised its stake in shares of Novo Nordisk A/S by 94.0% in the third quarter. Benedict Financial Advisors Inc. now owns 44,292 shares of the company’s stock worth $4,028,000 after buying an additional 21,457 shares during the period. Finally, CENTRAL TRUST Co lifted its position in shares of Novo Nordisk A/S by 111.6% during the 3rd quarter. CENTRAL TRUST Co now owns 6,004 shares of the company’s stock valued at $546,000 after buying an additional 3,166 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NVO has been the subject of several analyst reports. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 target price for the company. UBS Group began coverage on Novo Nordisk A/S in a research note on Tuesday, January 16th. They set a “neutral” rating on the stock. TD Cowen boosted their target price 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, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, March 20th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $126.25.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO traded down $1.36 during midday trading on Wednesday, reaching $128.05. The company had a trading volume of 3,937,536 shares, compared to its average volume of 5,259,305. The stock has a market cap of $574.63 billion, a P/E ratio of 47.43, a P/E/G ratio of 2.13 and a beta of 0.41. 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 has a 1 year low of $75.56 and a 1 year high of $138.28. The business’s 50-day simple moving average is $121.34 and its 200 day simple moving average is $104.22.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, topping 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 return on equity of 90.36% and a net margin of 36.03%. On average, analysts forecast that Novo Nordisk A/S will post 3.35 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 2nd. Investors of record on Monday, March 25th will be paid a $0.664 dividend. This is a boost from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. This represents a dividend yield of 0.9%. The ex-dividend date is Friday, March 22nd. Novo Nordisk A/S’s payout ratio is currently 48.89%.

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.