Harbour Trust & Investment Management Co Trims Holdings in Novo Nordisk A/S (NYSE:NVO)

Harbour Trust & Investment Management Co decreased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 14.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 85,066 shares of the company’s stock after selling 14,731 shares during the period. Harbour Trust & Investment Management Co’s holdings in Novo Nordisk A/S were worth $7,317,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NVO. WCM Investment Management LLC grew its stake in Novo Nordisk A/S by 1.0% during the fourth quarter. WCM Investment Management LLC now owns 4,031,124 shares of the company’s stock valued at $345,588,000 after acquiring an additional 40,475 shares in the last quarter. Raymond James & Associates grew its position in shares of Novo Nordisk A/S by 1.0% during the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock valued at $419,939,000 after purchasing an additional 36,223 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Novo Nordisk A/S by 2.7% in the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after purchasing an additional 80,070 shares during the period. International Assets Investment Management LLC raised its position in shares of Novo Nordisk A/S by 10,608.4% in the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after buying an additional 1,796,635 shares in the last quarter. Finally, LPL Financial LLC grew its position in Novo Nordisk A/S by 3.6% during the third quarter. LPL Financial LLC now owns 1,362,782 shares of the company’s stock worth $162,266,000 after buying an additional 47,496 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $86.39 on Monday. The company has a market capitalization of $387.66 billion, a P/E ratio of 26.26, a PEG ratio of 0.96 and a beta of 0.45. Novo Nordisk A/S has a fifty-two week low of $78.17 and a fifty-two week high of $148.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.75 and a current ratio of 0.74. The stock has a 50 day moving average price of $91.46 and a two-hundred day moving average price of $111.36.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate 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%. Analysts expect that Novo Nordisk A/S will post 3.86 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be given a $0.7874 dividend. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 21.88%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NVO shares. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. 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. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Finally, BMO Capital Markets dropped their price target on 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. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “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.