Convergence Financial LLC Buys 403 Shares of Novo Nordisk A/S (NYSE:NVO)

Convergence Financial LLC boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 3.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 11,554 shares of the company’s stock after purchasing an additional 403 shares during the quarter. Convergence Financial LLC’s holdings in Novo Nordisk A/S were worth $994,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Center for Financial Planning Inc. grew its holdings in Novo Nordisk A/S by 72.4% in the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after purchasing an additional 123 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in Novo Nordisk A/S during the 3rd quarter worth $28,000. Capital Performance Advisors LLP acquired a new position in Novo Nordisk A/S during the 3rd quarter valued at about $42,000. Albion Financial Group UT raised its stake in Novo Nordisk A/S by 121.4% in the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after buying an additional 278 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in Novo Nordisk A/S by 82.1% in the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock worth $46,000 after acquiring an additional 243 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on NVO. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a research report on Wednesday, February 12th. They issued an “equal weight” rating for the company. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Sanford C. Bernstein raised shares of 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 issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Finally, BMO Capital Markets lowered their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $145.25.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $89.67 on Thursday. The business’s 50-day moving average is $84.99 and its two-hundred day moving average is $107.30. The company has a market capitalization of $402.41 billion, a P/E ratio of 27.26, a P/E/G ratio of 0.90 and a beta of 0.45. 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.

Novo Nordisk A/S (NYSE:NVO) last posted its 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%. Research analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

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

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.