Novo Nordisk A/S (NYSE:NVO) Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd decreased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 0.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 93,514 shares of the company’s stock after selling 250 shares during the quarter. Cumberland Partners Ltd’s holdings in Novo Nordisk A/S were worth $9,674,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of NVO. International Assets Investment Management LLC boosted its holdings in shares of Novo Nordisk A/S by 133.2% during the third quarter. International Assets Investment Management LLC now owns 7,837 shares of the company’s stock valued at $719,000 after acquiring an additional 4,476 shares during the period. AE Wealth Management LLC raised its stake in shares of Novo Nordisk A/S by 142.8% during the third quarter. AE Wealth Management LLC now owns 26,888 shares of the company’s stock valued at $2,445,000 after purchasing an additional 15,812 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Novo Nordisk A/S by 61.6% during the third quarter. IFP Advisors Inc now owns 4,244 shares of the company’s stock valued at $386,000 after purchasing an additional 1,618 shares in the last quarter. Arkadios Wealth Advisors raised its stake in shares of Novo Nordisk A/S by 99.5% during the third quarter. Arkadios Wealth Advisors now owns 3,671 shares of the company’s stock valued at $334,000 after purchasing an additional 1,831 shares in the last quarter. Finally, RFG Advisory LLC raised its stake in shares of Novo Nordisk A/S by 90.1% during the third quarter. RFG Advisory LLC now owns 7,039 shares of the company’s stock valued at $640,000 after purchasing an additional 3,336 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analysts Set New Price Targets

NVO has been the topic of a number of recent analyst reports. BMO Capital Markets initiated coverage on shares of Novo Nordisk A/S in a research note on Friday, April 12th. They set an “outperform” rating and a $163.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Thursday, April 18th. UBS Group assumed coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 16th. They issued a “neutral” rating on the stock. Finally, Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price target for the company. Two investment analysts have 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $133.60.

Novo Nordisk A/S Price Performance

NYSE NVO traded up $3.36 on Tuesday, reaching $128.62. The company’s stock had a trading volume of 3,701,385 shares, compared to its average volume of 4,856,259. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.64 and a current ratio of 0.82. Novo Nordisk A/S has a twelve month low of $75.56 and a twelve month high of $138.28. The stock has a market cap of $577.19 billion, a PE ratio of 47.55, a PEG ratio of 2.05 and a beta of 0.41. The firm’s 50 day moving average is $126.66 and its two-hundred day moving average is $111.54.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The company had revenue of $9.51 billion for the quarter, compared to the consensus estimate of $9.14 billion. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. As a group, sell-side analysts predict that Novo Nordisk A/S will post 3.32 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 2nd. Stockholders of record on Monday, March 25th were issued a $0.664 dividend. This is an increase from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. The ex-dividend date of this dividend was Friday, March 22nd. This represents a dividend yield of 0.9%. Novo Nordisk A/S’s dividend payout ratio is currently 49.17%.

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.