Meridian Investment Counsel Inc. Has $3.93 Million Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Meridian Investment Counsel Inc. raised its holdings in Novo Nordisk A/S (NYSE:NVO) by 95.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,697 shares of the company’s stock after buying an additional 22,314 shares during the quarter. Novo Nordisk A/S accounts for about 1.2% of Meridian Investment Counsel Inc.’s investment portfolio, making the stock its 21st largest position. Meridian Investment Counsel Inc.’s holdings in Novo Nordisk A/S were worth $3,931,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its holdings in Novo Nordisk A/S by 16.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 204,583 shares of the company’s stock worth $24,360,000 after acquiring an additional 28,988 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in shares of Novo Nordisk A/S in the 3rd quarter valued at about $28,000. Verition Fund Management LLC raised its holdings in Novo Nordisk A/S by 3,310.3% in the third quarter. Verition Fund Management LLC now owns 51,222 shares of the company’s stock worth $6,099,000 after purchasing an additional 49,720 shares during the period. Flow Traders U.S. LLC grew its stake in Novo Nordisk A/S by 788.9% in the third quarter. Flow Traders U.S. LLC now owns 24,792 shares of the company’s stock valued at $2,952,000 after acquiring an additional 22,003 shares during the period. Finally, Encompass More Asset Management increased its stake in Novo Nordisk A/S by 14.4% during the 3rd quarter. Encompass More Asset Management now owns 2,269 shares of the company’s stock worth $270,000 after purchasing an additional 285 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $69.36 on Monday. Novo Nordisk A/S has a 1 year low of $67.09 and a 1 year high of $148.15. The company’s 50 day simple moving average is $82.33 and its two-hundred day simple moving average is $98.64. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The stock has a market capitalization of $311.23 billion, a PE ratio of 21.08, a P/E/G ratio of 0.90 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, beating 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%. Analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be issued 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 dividend yield of 1.2%. The ex-dividend date is Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio is presently 47.72%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Stifel Nicolaus downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Friday, March 21st. Finally, Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.