Modera Wealth Management LLC Lowers Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Modera Wealth Management LLC reduced its stake in Novo Nordisk A/S (NYSE:NVO) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 362,514 shares of the company’s stock after selling 6,261 shares during the quarter. Modera Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $31,183,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of NVO. SRS Capital Advisors Inc. lifted its position in shares of Novo Nordisk A/S by 119.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 7,924 shares of the company’s stock valued at $682,000 after acquiring an additional 4,315 shares in the last quarter. Halbert Hargrove Global Advisors LLC purchased a new position in Novo Nordisk A/S during the fourth quarter worth about $47,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Novo Nordisk A/S during the fourth quarter worth about $107,000. Smartleaf Asset Management LLC increased its stake in Novo Nordisk A/S by 88.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 17,788 shares of the company’s stock worth $1,525,000 after acquiring an additional 8,351 shares during the last quarter. Finally, Tower View Wealth Management LLC increased its stake in Novo Nordisk A/S by 5.8% during the fourth quarter. Tower View Wealth Management LLC now owns 25,035 shares of the company’s stock worth $2,154,000 after acquiring an additional 1,379 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Up 1.6 %

Shares of NVO opened at $90.68 on Friday. 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 stock’s 50-day moving average price is $84.82 and its 200 day moving average price is $106.72. The firm has a market capitalization of $406.91 billion, a price-to-earnings ratio of 27.56, a P/E/G ratio of 0.90 and a beta of 0.45. Novo Nordisk A/S has a 12-month low of $77.82 and a 12-month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, February 5th. The company reported $0.91 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, research analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NVO shares. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Morgan Stanley assumed coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Finally, BMO Capital Markets lowered their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.