Ingalls & Snyder LLC Increases Holdings in Novo Nordisk A/S (NYSE:NVO)

Ingalls & Snyder LLC grew its holdings in Novo Nordisk A/S (NYSE:NVO) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,646 shares of the company’s stock after acquiring an additional 961 shares during the period. Ingalls & Snyder LLC’s holdings in Novo Nordisk A/S were worth $4,529,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in NVO. Three Bridge Wealth Advisors LLC increased its stake in Novo Nordisk A/S by 1.2% during the fourth quarter. Three Bridge Wealth Advisors LLC now owns 12,558 shares of the company’s stock worth $1,080,000 after acquiring an additional 150 shares during the last quarter. Channing Global Advisors LLC purchased a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at approximately $354,000. Marks Group Wealth Management Inc boosted its holdings in shares of Novo Nordisk A/S by 1.6% in the fourth quarter. Marks Group Wealth Management Inc now owns 19,186 shares of the company’s stock valued at $1,650,000 after purchasing an additional 308 shares during the period. Great Lakes Retirement Inc. boosted its holdings in shares of Novo Nordisk A/S by 6.9% in the fourth quarter. Great Lakes Retirement Inc. now owns 8,871 shares of the company’s stock valued at $763,000 after purchasing an additional 575 shares during the period. Finally, Kentucky Trust Co purchased a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at approximately $495,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on NVO shares. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Morgan Stanley started coverage on Novo Nordisk A/S in a report on Wednesday. They set an “equal weight” rating for the company. BMO Capital Markets lowered their target price 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. Finally, StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Two equities 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Trading Down 2.3 %

Shares of Novo Nordisk A/S stock opened at $81.78 on Thursday. The firm has a market capitalization of $366.99 billion, a PE ratio of 24.86, a P/E/G ratio of 0.96 and a beta of 0.45. Novo Nordisk A/S has a twelve month low of $78.17 and a twelve month high of $148.15. The firm’s 50-day moving average price is $90.45 and its 200 day moving average price is $110.60. The company has a current ratio of 0.74, a quick ratio of 0.75 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share 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, sell-side analysts predict that Novo Nordisk A/S will post 3.86 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

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

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.