Glenview Trust co Boosts Stock Position in Novo Nordisk A/S (NYSE:NVO)

Glenview Trust co increased its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 55.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 20,566 shares of the company’s stock after acquiring an additional 7,369 shares during the period. Glenview Trust co’s holdings in Novo Nordisk A/S were worth $1,769,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Folketrygdfondet raised its position in shares of Novo Nordisk A/S by 0.5% during the 4th quarter. Folketrygdfondet now owns 8,903,938 shares of the company’s stock worth $765,917,000 after purchasing an additional 40,313 shares during the last quarter. Sustainable Growth Advisers LP raised its holdings in shares of Novo Nordisk A/S by 23.6% during the fourth quarter. Sustainable Growth Advisers LP now owns 5,340,803 shares of the company’s stock valued at $459,416,000 after acquiring an additional 1,021,498 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Novo Nordisk A/S in the fourth quarter valued at approximately $404,910,000. WCM Investment Management LLC boosted its stake in shares of Novo Nordisk A/S by 1.0% in the fourth quarter. WCM Investment Management LLC now owns 4,031,124 shares of the company’s stock worth $345,588,000 after acquiring an additional 40,475 shares during the last quarter. Finally, Amundi increased its position in shares of Novo Nordisk A/S by 26.4% during the fourth quarter. Amundi now owns 3,311,456 shares of the company’s stock worth $283,615,000 after purchasing an additional 692,567 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Up 1.8 %

Shares of NVO opened at $77.22 on Monday. The firm has a market cap of $346.54 billion, a P/E ratio of 23.47, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42. Novo Nordisk A/S has a 12-month low of $73.80 and a 12-month high of $148.15. The company’s 50-day moving average price is $83.95 and its 200 day moving average price is $102.79. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62.

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%. On average, sell-side analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share 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%.

Analysts Set New Price Targets

NVO has been the topic of a number of research reports. BMO Capital Markets decreased their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, Morgan Stanley assumed coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an “equal weight” rating for the company. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.