Novo Nordisk A/S (NYSE:NVO) Stake Lowered by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC cut its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 72.1% in the 4th quarter, Holdings Channel reports. The firm owned 5,417 shares of the company’s stock after selling 14,019 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Novo Nordisk A/S were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NVO. Aigen Investment Management LP bought a new position in Novo Nordisk A/S in the 3rd quarter worth approximately $297,000. Aptus Capital Advisors LLC lifted its position in Novo Nordisk A/S by 33.2% in 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 during the period. MQS Management LLC acquired a new stake in Novo Nordisk A/S in the third quarter worth approximately $363,000. Main Street Financial Solutions LLC lifted its position in Novo Nordisk A/S by 11.5% in 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 during the period. Finally, Huntington National Bank lifted its position 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 worth $2,168,000 after purchasing an additional 2,065 shares during the period. 11.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $77.22 on Friday. Novo Nordisk A/S has a one year low of $73.80 and a one year high of $148.15. The stock has a fifty day moving average of $83.95 and a 200-day moving average of $103.24. The company has a market capitalization of $346.54 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42. 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 released its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. As a group, equities analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be issued 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 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.