Cannell & Spears LLC Grows Stock Position in Novo Nordisk A/S (NYSE:NVO)

Cannell & Spears LLC lifted its position in Novo Nordisk A/S (NYSE:NVO) by 636.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,677 shares of the company’s stock after purchasing an additional 31,696 shares during the period. Cannell & Spears LLC’s holdings in Novo Nordisk A/S were worth $3,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in Novo Nordisk A/S by 16.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 204,583 shares of the company’s stock worth $24,360,000 after purchasing an additional 28,988 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Novo Nordisk A/S during the 3rd quarter worth approximately $28,000. Verition Fund Management LLC lifted its position in shares of Novo Nordisk A/S by 3,310.3% during the 3rd quarter. Verition Fund Management LLC now owns 51,222 shares of the company’s stock valued at $6,099,000 after buying an additional 49,720 shares in the last quarter. Benjamin Edwards Inc. grew its stake in Novo Nordisk A/S by 643.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 25,697 shares of the company’s stock valued at $3,060,000 after acquiring an additional 22,242 shares during the period. Finally, Ascent Group LLC increased its holdings in Novo Nordisk A/S by 1.3% in the 3rd quarter. Ascent Group LLC now owns 23,155 shares of the company’s stock worth $2,757,000 after acquiring an additional 286 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Kepler Capital Markets raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Finally, StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 21st. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $145.25.

Novo Nordisk A/S Price Performance

NVO stock opened at $69.58 on Tuesday. The business’s 50-day moving average is $82.15 and its two-hundred day moving average is $98.17. 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 firm has a market capitalization of $312.24 billion, a P/E ratio of 21.15, a P/E/G ratio of 0.90 and a beta of 0.42. Novo Nordisk A/S has a 1 year low of $66.88 and a 1 year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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%. Analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share 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 $0.7874 dividend. The ex-dividend date is Monday, March 31st. This represents a dividend yield of 1.2%. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio is presently 47.72%.

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.