Fox Hill Wealth Management Decreases Stake in Novo Nordisk A/S (NYSE:NVO)

Fox Hill Wealth Management lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 61.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,710 shares of the company’s stock after selling 18,638 shares during the quarter. Fox Hill Wealth Management’s holdings in Novo Nordisk A/S were worth $1,007,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Novo Nordisk A/S by 98.3% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 20,376 shares of the company’s stock valued at $1,771,000 after buying an additional 10,101 shares in the last quarter. Xponance Inc. grew its holdings in Novo Nordisk A/S by 4.9% during the 4th quarter. Xponance Inc. now owns 3,156 shares of the company’s stock valued at $271,000 after buying an additional 146 shares in the last quarter. Horizon Investments LLC grew its holdings in Novo Nordisk A/S by 207.0% during the 4th quarter. Horizon Investments LLC now owns 2,514 shares of the company’s stock valued at $216,000 after buying an additional 1,695 shares in the last quarter. PDS Planning Inc grew its holdings in Novo Nordisk A/S by 1.4% during the 4th quarter. PDS Planning Inc now owns 13,306 shares of the company’s stock valued at $1,145,000 after buying an additional 184 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. grew its holdings in Novo Nordisk A/S by 5.5% during the 4th quarter. Retirement Planning Co of New England Inc. now owns 10,049 shares of the company’s stock valued at $864,000 after buying an additional 525 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $80.95 on Wednesday. The business has a 50 day moving average of $83.81 and a 200 day moving average of $101.98. The company has a market capitalization of $363.28 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 0.90 and a beta of 0.42. Novo Nordisk A/S has a 1-year low of $73.80 and a 1-year 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.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates 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 predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business 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 $0.7874 dividend. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a yield of 1.2%. The ex-dividend date is Monday, March 31st. Novo Nordisk A/S’s payout ratio is 47.72%.

Analyst Ratings Changes

A number of research analysts have weighed in on NVO shares. BMO Capital Markets reduced their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 13th. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Finally, BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.