Novo Nordisk A/S (NYSE:NVO) Shares Sold by Harbour Investment Management LLC

Harbour Investment Management LLC decreased its holdings in Novo Nordisk A/S (NYSE:NVO) by 0.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 83,911 shares of the company’s stock after selling 640 shares during the quarter. Novo Nordisk A/S comprises about 3.2% of Harbour Investment Management LLC’s investment portfolio, making the stock its 5th largest holding. Harbour Investment Management LLC’s holdings in Novo Nordisk A/S were worth $7,218,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NVO. Aigen Investment Management LP purchased a new position in Novo Nordisk A/S in the third quarter valued at $297,000. Aptus Capital Advisors LLC raised its holdings in Novo Nordisk A/S by 33.2% during the third quarter. Aptus Capital Advisors LLC now owns 3,774 shares of the company’s stock worth $449,000 after purchasing an additional 940 shares in the last quarter. MQS Management LLC purchased a new position in Novo Nordisk A/S during the third quarter worth about $363,000. Main Street Financial Solutions LLC raised its holdings in Novo Nordisk A/S by 11.5% during the third quarter. Main Street Financial Solutions LLC now owns 3,681 shares of the company’s stock worth $438,000 after purchasing an additional 381 shares in the last quarter. Finally, Huntington National Bank increased its holdings in Novo Nordisk A/S by 12.8% in the third quarter. Huntington National Bank now owns 18,209 shares of the company’s stock valued at $2,168,000 after buying an additional 2,065 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NVO shares. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Thursday. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday. Finally, BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $145.25.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $77.22 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $346.54 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 0.90 and a beta of 0.42. The firm’s fifty day simple moving average is $83.95 and its 200 day simple moving average is $103.24. Novo Nordisk A/S has a twelve month low of $73.80 and a twelve month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results 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, equities research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share 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. Investors of record on Monday, March 31st will be paid a dividend of $0.7874 per share. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date of this dividend is Monday, March 31st. This represents a yield of 1.2%. Novo Nordisk A/S’s payout ratio is 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.