Cutter & CO Brokerage Inc. Sells 788 Shares of Novo Nordisk A/S (NYSE:NVO)

Cutter & CO Brokerage Inc. trimmed its holdings in Novo Nordisk A/S (NYSE:NVO) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 291,128 shares of the company’s stock after selling 788 shares during the period. Novo Nordisk A/S comprises about 8.4% of Cutter & CO Brokerage Inc.’s investment portfolio, making the stock its 2nd largest holding. Cutter & CO Brokerage Inc.’s holdings in Novo Nordisk A/S were worth $30,117,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Jennison Associates LLC increased its holdings in Novo Nordisk A/S by 100.3% during the 3rd quarter. Jennison Associates LLC now owns 23,419,405 shares of the company’s stock worth $2,129,761,000 after purchasing an additional 11,727,507 shares in the last quarter. Polen Capital Management LLC acquired a new position in Novo Nordisk A/S during the 3rd quarter worth approximately $718,995,000. FMR LLC grew its stake in shares of Novo Nordisk A/S by 122.7% during the 3rd quarter. FMR LLC now owns 12,077,501 shares of the company’s stock worth $1,098,328,000 after acquiring an additional 6,654,614 shares in the last quarter. Morgan Stanley raised its holdings in shares of Novo Nordisk A/S by 96.5% in the third quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock valued at $838,021,000 after purchasing an additional 4,526,199 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its holdings in Novo Nordisk A/S by 91.7% during the third quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock worth $827,354,000 after purchasing an additional 4,350,862 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on NVO. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Thursday, April 18th. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 target price for the company. UBS Group assumed coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 16th. They set a “neutral” rating on the stock. Finally, BMO Capital Markets started coverage on shares of Novo Nordisk A/S in a research report on Friday, April 12th. They issued an “outperform” rating and a $163.00 price objective for the company. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $133.60.

Novo Nordisk A/S Stock Performance

Shares of NVO traded up $3.36 during trading hours on Tuesday, hitting $128.62. The company had a trading volume of 3,701,385 shares, compared to its average volume of 4,856,259. The firm has a market cap of $577.19 billion, a price-to-earnings ratio of 47.34, a PEG ratio of 2.05 and a beta of 0.41. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.19. The business has a fifty day moving average of $126.49 and a 200-day moving average of $111.28. Novo Nordisk A/S has a 12 month low of $75.56 and a 12 month high of $138.28.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. The firm had revenue of $9.51 billion during the quarter, compared to the consensus estimate of $9.14 billion. Equities analysts anticipate that Novo Nordisk A/S will post 3.32 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 25th were issued a $0.664 dividend. This represents a yield of 0.9%. This is a positive change from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. The ex-dividend date of this dividend was Friday, March 22nd. Novo Nordisk A/S’s dividend payout ratio is currently 49.17%.

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.