Novo Nordisk A/S (NYSE:NVO) Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. trimmed its holdings in Novo Nordisk A/S (NYSE:NVO) by 34.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,974 shares of the company’s stock after selling 4,109 shares during the quarter. Wrapmanager Inc.’s holdings in Novo Nordisk A/S were worth $686,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Center for Financial Planning Inc. lifted its stake in Novo Nordisk A/S by 72.4% in the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after purchasing an additional 123 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Novo Nordisk A/S in the third quarter valued at approximately $28,000. Capital Performance Advisors LLP purchased a new position in Novo Nordisk A/S during the third quarter worth approximately $42,000. Albion Financial Group UT boosted its stake in Novo Nordisk A/S by 121.4% during the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock worth $44,000 after buying an additional 278 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its stake in Novo Nordisk A/S by 82.1% during the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock worth $46,000 after buying an additional 243 shares during the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $90.58 on Tuesday. Novo Nordisk A/S has a fifty-two week low of $77.82 and a fifty-two week high of $148.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. The company has a 50 day moving average price of $85.66 and a 200 day moving average price of $107.72. The stock has a market capitalization of $406.48 billion, a P/E ratio of 27.53, a PEG ratio of 0.90 and a beta of 0.45.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. Equities research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.7874 per share. The ex-dividend date is Monday, March 31st. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a yield of 1.2%. Novo Nordisk A/S’s dividend payout ratio is 47.72%.

Analyst Ratings Changes

NVO has been the topic of several analyst reports. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an “equal weight” rating on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. BMO Capital Markets reduced their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Finally, StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Two research 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. Based on data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average price target of $145.25.

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.