Portfolio Design Labs LLC Invests $208,000 in Novo Nordisk A/S (NYSE:NVO)

Portfolio Design Labs LLC purchased a new stake in Novo Nordisk A/S (NYSE:NVO) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,417 shares of the company’s stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. acquired a new position in shares of Novo Nordisk A/S during the 3rd quarter worth $28,000. Capital Performance Advisors LLP bought a new stake in Novo Nordisk A/S in the third quarter worth $42,000. Albion Financial Group UT increased its position in Novo Nordisk A/S by 121.4% during the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock worth $44,000 after buying an additional 278 shares during the last quarter. Sound Income Strategies LLC raised its holdings in Novo Nordisk A/S by 82.1% during the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock valued at $46,000 after buying an additional 243 shares in the last quarter. Finally, Hager Investment Management Services LLC bought a new position in Novo Nordisk A/S during the fourth quarter valued at about $46,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 2.3 %

Shares of NVO stock opened at $81.78 on Thursday. The stock has a 50 day moving average of $90.45 and a 200-day moving average of $110.60. The firm has a market cap of $366.99 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 0.96 and a beta of 0.45. The company has a quick ratio of 0.75, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. Novo Nordisk A/S has a 12 month low of $78.17 and a 12 month 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 for the quarter, beating 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%. On average, equities analysts predict that Novo Nordisk A/S will post 3.86 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be paid a dividend of $0.7874 per share. This represents a yield of 1.2%. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S’s payout ratio is currently 21.88%.

Wall Street Analysts Forecast Growth

NVO has been the subject of several recent analyst reports. 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. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. BMO Capital Markets dropped their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a report on Wednesday. They set an “equal weight” rating for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus 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.