Newbridge Financial Services Group Inc. Lowers Stake in Novo Nordisk A/S (NYSE:NVO)

Newbridge Financial Services Group Inc. lowered its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 97.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 548 shares of the company’s stock after selling 19,642 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Novo Nordisk A/S were worth $47,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Novare Capital Management LLC increased its position in shares of Novo Nordisk A/S by 3.2% during the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock worth $325,000 after purchasing an additional 85 shares in the last quarter. Fiduciary Alliance LLC increased its position in shares of Novo Nordisk A/S by 7.6% during the third quarter. Fiduciary Alliance LLC now owns 7,278 shares of the company’s stock worth $867,000 after purchasing an additional 511 shares in the last quarter. Wesbanco Bank Inc. increased its position in shares of Novo Nordisk A/S by 35.3% during the third quarter. Wesbanco Bank Inc. now owns 83,892 shares of the company’s stock worth $9,989,000 after purchasing an additional 21,904 shares in the last quarter. Creative Planning increased its position in shares of Novo Nordisk A/S by 4.7% during the third quarter. Creative Planning now owns 294,799 shares of the company’s stock worth $35,102,000 after purchasing an additional 13,203 shares in the last quarter. Finally, Iams Wealth Management LLC increased its position in shares of Novo Nordisk A/S by 7.2% during the third quarter. Iams Wealth Management LLC now owns 17,003 shares of the company’s stock worth $2,025,000 after purchasing an additional 1,144 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NVO shares. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Finally, BMO Capital Markets cut their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $145.25.

Novo Nordisk A/S Trading Down 0.2 %

NVO stock opened at $83.78 on Wednesday. The company’s 50-day simple moving average is $90.96 and its 200-day simple moving average is $110.91. The company has a quick ratio of 0.75, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. Novo Nordisk A/S has a 52-week low of $78.17 and a 52-week high of $148.15. The firm has a market cap of $375.95 billion, a P/E ratio of 25.46, a PEG ratio of 0.96 and a beta of 0.45.

Novo Nordisk A/S (NYSE:NVO) last posted its 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 analysts forecast that Novo Nordisk A/S will post 3.86 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

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

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.