Novo Nordisk A/S (NYSE:NVO) Shares Sold by Spinnaker Trust

Spinnaker Trust lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 1.1% during the fourth quarter, HoldingsChannel reports. The firm owned 9,560 shares of the company’s stock after selling 104 shares during the period. Spinnaker Trust’s holdings in Novo Nordisk A/S were worth $989,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital Investment Advisors LLC acquired a new position in shares of Novo Nordisk A/S in the third quarter worth about $222,000. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Novo Nordisk A/S by 14.2% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,522 shares of the company’s stock worth $502,000 after acquiring an additional 685 shares in the last quarter. Ballentine Partners LLC lifted its stake in shares of Novo Nordisk A/S by 102.6% in the third quarter. Ballentine Partners LLC now owns 17,478 shares of the company’s stock worth $1,589,000 after acquiring an additional 8,851 shares in the last quarter. Grimes & Company Inc. lifted its stake in shares of Novo Nordisk A/S by 88.6% in the third quarter. Grimes & Company Inc. now owns 100,881 shares of the company’s stock worth $9,174,000 after acquiring an additional 47,395 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. lifted its stake in shares of Novo Nordisk A/S by 100.0% in the third quarter. Investment Research & Advisory Group Inc. now owns 432 shares of the company’s stock worth $39,000 after acquiring an additional 216 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on NVO. Morgan Stanley initiated coverage on Novo Nordisk A/S in a research note on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday, April 18th. UBS Group initiated coverage on Novo Nordisk A/S in a report on Tuesday, January 16th. They issued a “neutral” rating for the company. Finally, BMO Capital Markets initiated coverage on Novo Nordisk A/S in a 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $133.60.

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO traded up $1.06 during trading on Friday, hitting $126.85. 3,312,457 shares of the company traded hands, compared to its average volume of 3,307,405. The stock has a market capitalization of $569.24 billion, a price-to-earnings ratio of 46.90, a PEG ratio of 2.10 and a beta of 0.41. The business’s fifty day moving average is $126.86 and its 200-day moving average is $111.98. Novo Nordisk A/S has a one year low of $75.56 and a one year high of $138.28. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.19.

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 analysts’ consensus estimates of $0.66 by $0.05. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. The business had revenue of $9.51 billion during the quarter, compared to analyst estimates of $9.14 billion. As a group, equities analysts predict that Novo Nordisk A/S will post 3.32 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Investors 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 49.17%.

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.