Rhumbline Advisers Has $4.96 Million Position in Novo Nordisk A/S (NYSE:NVO)

Rhumbline Advisers decreased its stake in Novo Nordisk A/S (NYSE:NVO) by 8.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,641 shares of the company’s stock after selling 5,598 shares during the period. Rhumbline Advisers’ holdings in Novo Nordisk A/S were worth $4,958,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in NVO. DAVENPORT & Co LLC increased its position in 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 valued at $90,477,000 after purchasing an additional 451,641 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Novo Nordisk A/S during the third quarter worth $42,017,000. World Investment Advisors LLC raised its stake in Novo Nordisk A/S by 2,655.9% during the third quarter. World Investment Advisors LLC now owns 280,409 shares of the company’s stock worth $33,388,000 after buying an additional 270,234 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Novo Nordisk A/S by 53.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 729,965 shares of the company’s stock valued at $63,183,000 after buying an additional 254,475 shares during the period. Finally, Vontobel Holding Ltd. boosted its position in Novo Nordisk A/S by 2,068.4% during the fourth quarter. Vontobel Holding Ltd. now owns 263,202 shares of the company’s stock valued at $22,641,000 after acquiring an additional 251,064 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. BMO Capital Markets lowered 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. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Finally, 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 on the stock. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Novo Nordisk A/S has an average rating of “Moderate Buy” and an average price target of $145.25.

Novo Nordisk A/S Stock Down 0.3 %

Shares of NYSE:NVO opened at $89.25 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. Novo Nordisk A/S has a 52-week low of $77.82 and a 52-week high of $148.15. The business’s 50 day simple moving average is $84.71 and its two-hundred day simple moving average is $107.17. The firm has a market cap of $400.51 billion, a P/E ratio of 27.13, a PEG ratio of 0.90 and a beta of 0.45.

Novo Nordisk A/S (NYSE:NVO) last issued its 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 return on equity of 84.68% and a net margin of 34.81%. As a group, research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be given a dividend of $0.7874 per share. The ex-dividend date 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 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.