Ramirez Asset Management Inc. Sells 317 Shares of Novo Nordisk A/S (NYSE:NVO)

Ramirez Asset Management Inc. decreased its holdings in Novo Nordisk A/S (NYSE:NVO) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,333 shares of the company’s stock after selling 317 shares during the period. Ramirez Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $1,921,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in NVO. Daiwa Securities Group Inc. acquired a new position in shares of Novo Nordisk A/S in the 3rd quarter valued at $28,000. Center for Financial Planning Inc. lifted its position in Novo Nordisk A/S by 72.4% during the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after purchasing an additional 123 shares during the period. Dunhill Financial LLC grew its position in Novo Nordisk A/S by 196.8% during the 3rd quarter. Dunhill Financial LLC now owns 469 shares of the company’s stock worth $56,000 after purchasing an additional 311 shares during the period. Albion Financial Group UT raised its stake in shares of Novo Nordisk A/S by 121.4% during the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after buying an additional 278 shares during the last quarter. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Novo Nordisk A/S in the fourth quarter worth about $46,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NVO shares. StockNews.com lowered 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 issued an “equal weight” rating for the company. Stifel Nicolaus cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Finally, BMO Capital Markets cut their target price 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. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Stock Down 2.2 %

NVO stock opened at $70.18 on Friday. The company has a market cap of $314.93 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 0.90 and a beta of 0.42. The firm has a 50-day moving average of $82.52 and a two-hundred day moving average of $99.54. Novo Nordisk A/S has a 12 month low of $69.77 and a 12 month high of $148.15. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62.

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

Novo Nordisk A/S Increases Dividend

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

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.