Denali Advisors LLC Sells 12,436 Shares of Novo Nordisk A/S (NYSE:NVO)

Denali Advisors LLC cut its stake in Novo Nordisk A/S (NYSE:NVO) by 61.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,887 shares of the company’s stock after selling 12,436 shares during the quarter. Denali Advisors LLC’s holdings in Novo Nordisk A/S were worth $678,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVO. Center for Financial Planning Inc. grew its holdings in Novo Nordisk A/S by 72.4% during 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 in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Novo Nordisk A/S in the third quarter valued at approximately $28,000. Capital Performance Advisors LLP purchased a new position in Novo Nordisk A/S during the third quarter valued at approximately $42,000. Albion Financial Group UT grew its stake in Novo Nordisk A/S by 121.4% during the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after acquiring 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 acquiring an additional 243 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Trading Down 1.4 %

Shares of NVO stock opened at $89.67 on Thursday. The business has a 50-day moving average price of $84.99 and a two-hundred day moving average price of $107.30. Novo Nordisk A/S has a 12-month low of $77.82 and a 12-month 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 $402.41 billion, a P/E ratio of 27.26, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Equities analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be issued a dividend of $0.7874 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a dividend yield of 1.2%. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 47.72%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Finally, StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average price target of $145.25.

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.