Everett Harris & Co. CA Cuts Holdings in Novo Nordisk A/S (NYSE:NVO)

Everett Harris & Co. CA reduced its stake in Novo Nordisk A/S (NYSE:NVO) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,512,789 shares of the company’s stock after selling 26,413 shares during the period. Novo Nordisk A/S accounts for 9.6% of Everett Harris & Co. CA’s holdings, making the stock its 3rd biggest holding. Everett Harris & Co. CA owned 0.15% of Novo Nordisk A/S worth $673,748,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Jennison Associates LLC lifted its stake in shares of Novo Nordisk A/S by 100.3% during the 3rd quarter. Jennison Associates LLC now owns 23,419,405 shares of the company’s stock valued at $2,129,761,000 after buying an additional 11,727,507 shares in the last quarter. Polen Capital Management LLC purchased a new stake in Novo Nordisk A/S in the third quarter worth about $718,995,000. FMR LLC lifted its position in Novo Nordisk A/S by 122.7% during the third quarter. FMR LLC now owns 12,077,501 shares of the company’s stock valued at $1,098,328,000 after buying an additional 6,654,614 shares during the period. Morgan Stanley boosted its stake in Novo Nordisk A/S by 96.5% during the third quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock worth $838,021,000 after acquiring an additional 4,526,199 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in shares of Novo Nordisk A/S by 91.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock worth $827,354,000 after purchasing an additional 4,350,862 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock traded down $1.36 during trading on Wednesday, reaching $128.05. The company’s stock had a trading volume of 3,937,536 shares, compared to its average volume of 5,259,305. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.19. Novo Nordisk A/S has a 12-month low of $75.56 and a 12-month high of $138.28. The business has a 50 day moving average price of $121.34 and a 200-day moving average price of $104.22. The company has a market capitalization of $574.63 billion, a P/E ratio of 47.43, a price-to-earnings-growth ratio of 2.13 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.14 billion. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 3.35 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, April 2nd. Shareholders of record on Monday, March 25th will be paid a dividend of $0.664 per share. This represents a yield of 0.9%. This is an increase from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. The ex-dividend date of this dividend is Friday, March 22nd. Novo Nordisk A/S’s dividend payout ratio is 48.89%.

Analyst Upgrades and Downgrades

NVO has been the subject of a number of research analyst reports. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, March 20th. UBS Group initiated coverage on Novo Nordisk A/S in a research note on Tuesday, January 16th. They set a “neutral” rating on the stock. Finally, TD Cowen increased their target price on shares of Novo Nordisk A/S from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, December 4th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $126.25.

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.