Van ECK Associates Corp Reduces Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Van ECK Associates Corp lowered its holdings in Novo Nordisk A/S (NYSE:NVO) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 462,985 shares of the company’s stock after selling 29,482 shares during the quarter. Van ECK Associates Corp’s holdings in Novo Nordisk A/S were worth $39,826,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NVO. Daiwa Securities Group Inc. purchased a new position in Novo Nordisk A/S during the third quarter worth approximately $28,000. Capital Performance Advisors LLP acquired a new stake in shares of Novo Nordisk A/S in the 3rd quarter worth $42,000. Carolina Wealth Advisors LLC purchased a new position in shares of Novo Nordisk A/S during the 3rd quarter worth $48,000. Dunhill Financial LLC boosted its position in shares of Novo Nordisk A/S by 196.8% during the 3rd quarter. Dunhill Financial LLC now owns 469 shares of the company’s stock valued at $56,000 after acquiring an additional 311 shares during the last quarter. Finally, Albion Financial Group UT grew its holdings in shares of Novo Nordisk A/S by 121.4% in the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after purchasing an additional 278 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 3.7 %

NYSE:NVO opened at $78.78 on Friday. Novo Nordisk A/S has a 52 week low of $78.17 and a 52 week high of $148.15. The stock’s fifty day moving average is $89.91 and its two-hundred day moving average is $110.40. The stock has a market capitalization 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 (NYSE:NVO) last posted its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) 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%. Research analysts anticipate that Novo Nordisk A/S will post 3.86 EPS for the current year.

Novo Nordisk A/S Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages have commented on NVO. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research report on Wednesday. They set an “equal weight” rating on the stock. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. BMO Capital Markets reduced their target price on 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. Finally, Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Two investment 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, the company 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.