Novo Nordisk A/S (NYSE:NVO) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 10.1% in the fourth quarter, Holdings Channel reports. The fund owned 57,477 shares of the company’s stock after selling 6,435 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Novo Nordisk A/S were worth $4,944,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Norman Fields Gottscho Capital Management LLC raised its stake in shares of Novo Nordisk A/S by 45.3% during the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company’s stock worth $5,482,000 after buying an additional 19,870 shares in the last quarter. Bryn Mawr Capital Management LLC raised its stake in shares of Novo Nordisk A/S by 358.8% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 38,898 shares of the company’s stock worth $3,346,000 after buying an additional 30,420 shares in the last quarter. Versant Capital Management Inc purchased a new position in shares of Novo Nordisk A/S during the 4th quarter worth approximately $86,000. Talbot Financial LLC purchased a new position in shares of Novo Nordisk A/S during the 4th quarter worth approximately $4,066,000. Finally, Clear Creek Financial Management LLC purchased a new position in shares of Novo Nordisk A/S during the 4th quarter worth approximately $450,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $77.22 on Monday. 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 stock has a fifty day moving average of $83.95 and a two-hundred day moving average of $102.79. The company 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. Novo Nordisk A/S has a fifty-two week low of $73.80 and a fifty-two week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data 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 return on equity of 84.68% and a net margin of 34.81%. On average, 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 disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.7874 per share. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date is Monday, March 31st. This represents a dividend yield of 1.2%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 47.72%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NVO shares. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. BMO Capital Markets dropped their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, Stifel Nicolaus downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $145.25.

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.