Harbour Investments Inc. Lowers Stock Position in Novo Nordisk A/S (NYSE:NVO)

Harbour Investments Inc. reduced its position in Novo Nordisk A/S (NYSE:NVO) by 19.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,014 shares of the company’s stock after selling 2,118 shares during the quarter. Harbour Investments Inc.’s holdings in Novo Nordisk A/S were worth $775,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVO. Raymond James Financial Inc. acquired a new position in shares of Novo Nordisk A/S in the 4th quarter valued at about $404,910,000. Sustainable Growth Advisers LP raised its holdings in Novo Nordisk A/S by 23.6% in the fourth quarter. Sustainable Growth Advisers LP now owns 5,340,803 shares of the company’s stock valued at $459,416,000 after buying an additional 1,021,498 shares during the period. Amundi lifted its position in Novo Nordisk A/S by 26.4% during the fourth quarter. Amundi now owns 3,311,456 shares of the company’s stock valued at $283,615,000 after buying an additional 692,567 shares in the last quarter. Parnassus Investments LLC purchased a new stake in Novo Nordisk A/S during the fourth quarter worth approximately $51,072,000. Finally, DAVENPORT & Co LLC increased its position in shares of Novo Nordisk A/S by 75.1% in the fourth quarter. DAVENPORT & Co LLC now owns 1,052,712 shares of the company’s stock worth $90,477,000 after acquiring an additional 451,641 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $78.91 on Thursday. The firm has a market cap of $354.12 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 0.90 and a beta of 0.42. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $83.67 and its two-hundred day moving average is $101.82. Novo Nordisk A/S has a 52-week low of $73.80 and a 52-week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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%. Analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal 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 $0.7874 dividend. This represents a yield of 1.2%. This is an increase 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 dividend payout ratio (DPR) is 47.72%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. BMO Capital Markets decreased their target price on 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. Kepler Capital Markets upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 13th. Finally, Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an “equal weight” rating on the stock. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $145.25.

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.