Bright Futures Wealth Management LLC. Lowers Stake in Novo Nordisk A/S (NYSE:NVO)

Bright Futures Wealth Management LLC. cut its position in shares of Novo Nordisk A/S (NYSE:NVO) by 10.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,355 shares of the company’s stock after selling 1,133 shares during the quarter. Bright Futures Wealth Management LLC.’s holdings in Novo Nordisk A/S were worth $786,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Daiwa Securities Group Inc. purchased a new stake in shares of Novo Nordisk A/S during the third quarter worth about $28,000. Capital Performance Advisors LLP purchased a new stake in shares of Novo Nordisk A/S during the third quarter worth about $42,000. Albion Financial Group UT grew its holdings in shares of 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 in the last quarter. Sound Income Strategies LLC boosted its position in shares of Novo Nordisk A/S by 82.1% in the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock worth $46,000 after acquiring an additional 243 shares during the last quarter. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Novo Nordisk A/S in the fourth quarter worth approximately $46,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 3.7 %

Shares of NVO stock opened at $78.78 on Friday. The stock has a market cap of $353.52 billion, a price-to-earnings ratio of 23.94, 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 fifty-two week low of $78.17 and a fifty-two week high of $148.15. The firm’s 50 day moving average price is $89.91 and its two-hundred day moving average price is $110.40.

Novo Nordisk A/S (NYSE:NVO) last announced 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, analysts anticipate that Novo Nordisk A/S will post 3.86 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The company 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. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a dividend yield of 1.2%. The ex-dividend date is Monday, March 31st. Novo Nordisk A/S’s payout ratio is presently 21.88%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NVO shares. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. BMO Capital Markets decreased their target price 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 started coverage on shares of Novo Nordisk A/S in a research report on Wednesday. They issued an “equal weight” rating on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and a consensus 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.