Great Lakes Retirement Inc. Increases Stock Position in Novo Nordisk A/S (NYSE:NVO)

Great Lakes Retirement Inc. lifted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 6.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,871 shares of the company’s stock after buying an additional 575 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Novo Nordisk A/S were worth $763,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of NVO. International Assets Investment Management LLC lifted its stake in shares of Novo Nordisk A/S by 10,608.4% during the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after buying an additional 1,796,635 shares during the period. Mediolanum International Funds Ltd purchased a new position in shares of Novo Nordisk A/S during the third quarter valued at approximately $98,765,000. DAVENPORT & Co LLC lifted its stake in shares of Novo Nordisk A/S by 75.1% during the fourth quarter. DAVENPORT & Co LLC now owns 1,052,712 shares of the company’s stock valued at $90,477,000 after buying an additional 451,641 shares during the period. Wellington Management Group LLP purchased a new position in shares of Novo Nordisk A/S during the third quarter valued at approximately $42,017,000. Finally, World Investment Advisors LLC lifted its stake in shares of Novo Nordisk A/S by 2,655.9% during the third quarter. World Investment Advisors LLC now owns 280,409 shares of the company’s stock valued at $33,388,000 after buying an additional 270,234 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NVO. BMO Capital Markets reduced their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a research report on Wednesday. They set an “equal weight” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $81.78 on Thursday. Novo Nordisk A/S has a 52-week low of $78.17 and a 52-week high of $148.15. The firm has a fifty day moving average of $90.45 and a 200-day moving average of $110.60. The firm has a market capitalization of $366.99 billion, a P/E ratio of 24.86, a PEG ratio of 0.96 and a beta of 0.45. The company has a quick ratio of 0.75, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts predict that Novo Nordisk A/S will post 3.86 EPS 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a dividend yield of 1.2%. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio is presently 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.