Novo Nordisk A/S (NYSE:NVO) is Cutter & CO Brokerage Inc.’s 2nd Largest Position

Cutter & CO Brokerage Inc. increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 290,101 shares of the company’s stock after buying an additional 8,306 shares during the period. Novo Nordisk A/S accounts for approximately 6.1% of Cutter & CO Brokerage Inc.’s portfolio, making the stock its 2nd largest holding. Cutter & CO Brokerage Inc.’s holdings in Novo Nordisk A/S were worth $24,954,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. WCM Investment Management LLC boosted its position in shares of Novo Nordisk A/S by 1.0% during the 4th quarter. WCM Investment Management LLC now owns 4,031,124 shares of the company’s stock worth $345,588,000 after purchasing an additional 40,475 shares during the period. Natixis Advisors LLC boosted its position in shares of Novo Nordisk A/S by 2.7% during the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after purchasing an additional 80,070 shares during the period. DSM Capital Partners LLC boosted its position in shares of Novo Nordisk A/S by 16.7% during the 4th quarter. DSM Capital Partners LLC now owns 2,007,412 shares of the company’s stock worth $172,678,000 after purchasing an additional 286,912 shares during the period. LPL Financial LLC boosted its position in shares of Novo Nordisk A/S by 3.6% during the 3rd quarter. LPL Financial LLC now owns 1,362,782 shares of the company’s stock worth $162,266,000 after purchasing an additional 47,496 shares during the period. Finally, DAVENPORT & Co LLC boosted its position in shares of Novo Nordisk A/S by 75.1% during the 4th quarter. DAVENPORT & Co LLC now owns 1,052,712 shares of the company’s stock worth $90,477,000 after purchasing an additional 451,641 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

NVO has been the subject of a number of research analyst reports. BMO Capital Markets lowered their price objective on shares of 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. 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. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $90.94 on Wednesday. Novo Nordisk A/S has a twelve month low of $77.82 and a twelve month high of $148.15. The firm’s fifty day simple moving average is $85.32 and its 200-day simple moving average is $107.42. The firm has a market capitalization of $408.07 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 0.90 and a beta of 0.45. 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 announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Equities analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company 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 $0.7874 dividend. 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. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio (DPR) 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.