Hoey Investments Inc. Increases Position in Novo Nordisk A/S (NYSE:NVO)

Hoey Investments Inc. grew its holdings in Novo Nordisk A/S (NYSE:NVO) by 735.3% during the fourth quarter, HoldingsChannel reports. The firm owned 568 shares of the company’s stock after acquiring an additional 500 shares during the period. Hoey Investments Inc.’s holdings in Novo Nordisk A/S were worth $49,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Menard Financial Group LLC increased its position in Novo Nordisk A/S by 0.8% during the third quarter. Menard Financial Group LLC now owns 12,283 shares of the company’s stock worth $1,463,000 after purchasing an additional 102 shares during the last quarter. Optimist Retirement Group LLC increased its stake in Novo Nordisk A/S by 4.3% during the third quarter. Optimist Retirement Group LLC now owns 2,747 shares of the company’s stock worth $327,000 after acquiring an additional 112 shares during the last quarter. M. Kulyk & Associates LLC raised its position in Novo Nordisk A/S by 3.9% in the fourth quarter. M. Kulyk & Associates LLC now owns 3,182 shares of the company’s stock valued at $274,000 after purchasing an additional 119 shares during the period. Center for Financial Planning Inc. lifted its stake in shares of Novo Nordisk A/S by 72.4% in the 4th 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 during the last quarter. Finally, Tradewinds Capital Management LLC grew its holdings in shares of Novo Nordisk A/S by 2.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 4,984 shares of the company’s stock worth $429,000 after purchasing an additional 124 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on NVO. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research report on Wednesday, February 12th. They set an “equal weight” rating for the company. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 21st. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. BMO Capital Markets dropped their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Finally, BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Stock Up 0.4 %

Novo Nordisk A/S stock opened at $69.58 on Tuesday. 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. The stock’s fifty day simple moving average is $82.15 and its 200-day simple moving average is $98.17. Novo Nordisk A/S has a twelve month low of $66.88 and a twelve month high of $148.15. 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 issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate 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%. As a group, equities analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

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

Novo Nordisk A/S 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.