FineMark National Bank & Trust Trims Stake in Novo Nordisk A/S (NYSE:NVO)

FineMark National Bank & Trust lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 48.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,603 shares of the company’s stock after selling 2,463 shares during the quarter. FineMark National Bank & Trust’s holdings in Novo Nordisk A/S were worth $224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Menard Financial Group LLC grew its holdings in Novo Nordisk A/S by 0.8% during the third quarter. Menard Financial Group LLC now owns 12,283 shares of the company’s stock valued at $1,463,000 after purchasing an additional 102 shares during the period. Optimist Retirement Group LLC lifted its position in shares of Novo Nordisk A/S by 4.3% during the 3rd quarter. Optimist Retirement Group LLC now owns 2,747 shares of the company’s stock valued at $327,000 after buying an additional 112 shares in the last quarter. Financial Counselors Inc. grew its stake in shares of Novo Nordisk A/S by 1.1% during the 3rd quarter. Financial Counselors Inc. now owns 11,009 shares of the company’s stock valued at $1,311,000 after acquiring an additional 115 shares during the period. M. Kulyk & Associates LLC increased its holdings in Novo Nordisk A/S by 3.9% in the 4th quarter. M. Kulyk & Associates LLC now owns 3,182 shares of the company’s stock worth $274,000 after acquiring an additional 119 shares in the last quarter. Finally, Center for Financial Planning Inc. raised its stake 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 worth $25,000 after acquiring an additional 123 shares during the period. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 2.5 %

Shares of NVO opened at $71.74 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The stock has a market capitalization of $321.94 billion, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42. Novo Nordisk A/S has a 1 year low of $70.39 and a 1 year high of $148.15. The business’s 50 day simple moving average is $82.78 and its 200-day simple moving average is $99.75.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. As a group, equities analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently declared 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. The ex-dividend date is Monday, March 31st. This represents a 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%.

Wall Street Analyst Weigh In

NVO has been the subject of a number of analyst reports. BMO Capital Markets reduced their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 21st. Morgan Stanley initiated coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They set an “equal weight” rating for the company. Finally, Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Novo Nordisk A/S has an average 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.