Cumberland Partners Ltd Lowers Stock Position in Novo Nordisk A/S (NYSE:NVO)

Cumberland Partners Ltd decreased its position in Novo Nordisk A/S (NYSE:NVO) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,514 shares of the company’s stock after selling 250 shares during the period. Cumberland Partners Ltd’s holdings in Novo Nordisk A/S were worth $9,674,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Clarius Group LLC boosted its stake in Novo Nordisk A/S by 0.5% in the 4th quarter. Clarius Group LLC now owns 18,505 shares of the company’s stock worth $1,914,000 after purchasing an additional 93 shares in the last quarter. Tradewinds Capital Management LLC increased its position in shares of Novo Nordisk A/S by 2.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 4,955 shares of the company’s stock valued at $513,000 after purchasing an additional 95 shares during the last quarter. Relyea Zuckerberg Hanson LLC increased its position in shares of Novo Nordisk A/S by 3.2% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 3,159 shares of the company’s stock valued at $327,000 after purchasing an additional 99 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its position in shares of Novo Nordisk A/S by 3.5% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 2,960 shares of the company’s stock valued at $306,000 after purchasing an additional 100 shares during the last quarter. Finally, Highlander Capital Management LLC increased its position in shares of Novo Nordisk A/S by 0.4% during the 4th quarter. Highlander Capital Management LLC now owns 25,100 shares of the company’s stock valued at $2,597,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Up 2.7 %

NVO stock traded up $3.36 during trading on Tuesday, reaching $128.62. 3,701,385 shares of the company traded hands, compared to its average volume of 4,856,259. Novo Nordisk A/S has a 12 month low of $75.56 and a 12 month high of $138.28. The business has a 50 day simple moving average of $126.66 and a 200 day simple moving average of $111.54. The company has a market capitalization of $577.19 billion, a price-to-earnings ratio of 47.55, a price-to-earnings-growth ratio of 2.05 and a beta of 0.41. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.64 and a current ratio of 0.82.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. The business had revenue of $9.51 billion during the quarter, compared to the consensus estimate 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, equities research analysts anticipate that Novo Nordisk A/S will post 3.32 earnings per share 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 2nd. Investors of record on Monday, March 25th were issued a dividend of $0.664 per share. This is an increase from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. The ex-dividend date of this dividend was Friday, March 22nd. This represents a dividend yield of 0.9%. Novo Nordisk A/S’s payout ratio is 49.17%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NVO shares. 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, April 18th. BMO Capital Markets started coverage on Novo Nordisk A/S in a research report on Friday, April 12th. They issued an “outperform” rating and a $163.00 price target for the company. Finally, UBS Group initiated coverage on Novo Nordisk A/S in a research note on Tuesday, January 16th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.60.

Novo Nordisk A/S Company 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.