8,311 Shares in Novo Nordisk A/S (NYSE:NVO) Purchased by Rossby Financial LCC

Rossby Financial LCC purchased a new stake in Novo Nordisk A/S (NYSE:NVO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,311 shares of the company’s stock, valued at approximately $715,000.

Several other hedge funds have also recently modified their holdings of the business. Center for Financial Planning Inc. increased its holdings 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 acquiring an additional 123 shares during the period. Albion Financial Group UT grew its stake in Novo Nordisk A/S by 121.4% in the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after purchasing an additional 278 shares during the last quarter. Sound Income Strategies LLC raised its holdings in Novo Nordisk A/S by 82.1% in the fourth 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. Hager Investment Management Services LLC bought a new position in Novo Nordisk A/S in the fourth quarter worth about $46,000. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at about $47,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on NVO. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. BMO Capital Markets decreased their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Morgan Stanley started coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They set an “equal weight” rating on the stock. Kepler Capital Markets upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Finally, Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $145.25.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $64.76 on Monday. The stock has a market cap of $290.59 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 0.90 and a beta of 0.61. Novo Nordisk A/S has a 52-week low of $59.32 and a 52-week high of $148.15. The business has a 50-day simple moving average of $77.87 and a 200-day simple moving average of $93.34. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO) last issued 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 net margin of 34.81% and a return on equity of 84.68%. On average, equities 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 announced a semi-annual dividend, which was paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st were given a dividend of $0.7874 per share. The ex-dividend date was Monday, March 31st. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a dividend yield of 1.2%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 49.54%.

Novo Nordisk A/S 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.