Balboa Wealth Partners Raises Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Balboa Wealth Partners raised its stake in Novo Nordisk A/S (NYSE:NVO) by 442.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 10,745 shares of the company’s stock after buying an additional 8,764 shares during the quarter. Balboa Wealth Partners’ holdings in Novo Nordisk A/S were worth $924,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. bought a new stake in shares of Novo Nordisk A/S in the 3rd quarter valued at about $28,000. Center for Financial Planning Inc. lifted its position in Novo Nordisk A/S by 72.4% during the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after acquiring an additional 123 shares during the last quarter. Dunhill Financial LLC boosted its stake in Novo Nordisk A/S by 196.8% in the third quarter. Dunhill Financial LLC now owns 469 shares of the company’s stock valued at $56,000 after acquiring an additional 311 shares in the last quarter. Albion Financial Group UT grew its holdings in Novo Nordisk A/S by 121.4% in the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock worth $44,000 after purchasing an additional 278 shares during the last quarter. Finally, Hager Investment Management Services LLC acquired a new position in shares of Novo Nordisk A/S during the fourth quarter worth $46,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

NVO has been the subject of a number of recent analyst reports. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. BMO Capital Markets decreased their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Finally, 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. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Novo Nordisk A/S has an average rating of “Moderate Buy” and an average target price of $145.25.

Novo Nordisk A/S Stock Down 4.3 %

Shares of NVO stock opened at $74.75 on Thursday. 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 fifty-two week low of $73.80 and a fifty-two week high of $148.15. The firm has a market capitalization of $335.42 billion, a PE ratio of 22.72, a P/E/G ratio of 0.90 and a beta of 0.42. The stock’s 50-day simple moving average is $84.39 and its 200-day simple moving average is $103.83.

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, topping the consensus estimate 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%. Equities analysts expect that Novo Nordisk A/S will post 3.84 earnings per share 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 issued a dividend of $0.7874 per share. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio (DPR) is 47.72%.

Novo Nordisk A/S 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.