Hardman Johnston Global Advisors LLC Sells 9,238 Shares of Novo Nordisk A/S (NYSE:NVO)

Hardman Johnston Global Advisors LLC cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 6.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 134,960 shares of the company’s stock after selling 9,238 shares during the period. Hardman Johnston Global Advisors LLC’s holdings in Novo Nordisk A/S were worth $11,609,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in NVO. Center for Financial Planning Inc. grew its stake in shares of Novo Nordisk A/S by 72.4% in the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after buying an additional 123 shares during the period. Daiwa Securities Group Inc. bought a new stake in Novo Nordisk A/S during the 3rd quarter worth approximately $28,000. Capital Performance Advisors LLP bought a new stake in Novo Nordisk A/S during the 3rd quarter worth approximately $42,000. Albion Financial Group UT increased its holdings in Novo Nordisk A/S by 121.4% during the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock worth $44,000 after purchasing an additional 278 shares in the last quarter. Finally, Sound Income Strategies LLC increased its holdings in Novo Nordisk A/S by 82.1% during the 4th quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock worth $46,000 after purchasing an additional 243 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on NVO shares. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. BMO Capital Markets dropped their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Finally, BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $145.25.

Novo Nordisk A/S Trading Up 5.2 %

NYSE:NVO opened at $88.07 on Monday. The company has a market cap of $395.19 billion, a P/E ratio of 26.77, a P/E/G ratio of 0.90 and a beta of 0.45. The stock’s fifty day moving average price is $86.01 and its two-hundred day moving average price is $107.99. 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.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be given a $0.7874 dividend. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio (DPR) is 21.88%.

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.