Main Street Research LLC Decreases Stake in Novo Nordisk A/S (NYSE:NVO)

Main Street Research LLC cut its position in Novo Nordisk A/S (NYSE:NVO) by 81.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,803 shares of the company’s stock after selling 376,265 shares during the period. Main Street Research LLC’s holdings in Novo Nordisk A/S were worth $7,381,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Center for Financial Planning Inc. boosted its holdings in Novo Nordisk A/S by 72.4% in the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after purchasing an additional 123 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Novo Nordisk A/S during the 3rd quarter worth approximately $28,000. Capital Performance Advisors LLP acquired a new position in shares of Novo Nordisk A/S in the 3rd quarter valued at $42,000. Albion Financial Group UT raised its stake in Novo Nordisk A/S by 121.4% during the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock worth $44,000 after acquiring an additional 278 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its position in Novo Nordisk A/S by 82.1% in the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock valued at $46,000 after acquiring an additional 243 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $87.19 on Monday. The business has a 50 day simple moving average of $84.91 and a 200-day simple moving average of $104.86. Novo Nordisk A/S has a 12 month low of $77.82 and a 12 month high of $148.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The stock has a market capitalization of $391.25 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last released its 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 net margin of 34.81% and a return on equity of 84.68%. Equities analysts predict 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. Investors of record on Monday, March 31st will be paid a $0.7874 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a dividend yield of 1.2%. Novo Nordisk A/S’s payout ratio is 47.72%.

Analysts Set New Price Targets

NVO has been the topic of several research reports. Stifel Nicolaus lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. BMO Capital Markets cut their price target 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. Morgan Stanley began coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an “equal weight” rating for the company. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Company 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.