Lafayette Investments Inc. Reduces Stake in Novo Nordisk A/S (NYSE:NVO)

Lafayette Investments Inc. reduced its position in Novo Nordisk A/S (NYSE:NVO) by 20.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,000 shares of the company’s stock after selling 1,000 shares during the period. Lafayette Investments Inc.’s holdings in Novo Nordisk A/S were worth $414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Cambridge Trust Co. boosted its stake in shares of Novo Nordisk A/S by 0.5% in the 4th quarter. Cambridge Trust Co. now owns 100,857 shares of the company’s stock worth $10,434,000 after buying an additional 525 shares during the last quarter. Oliver Lagore Vanvalin Investment Group boosted its stake in shares of Novo Nordisk A/S by 69.2% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 12,091 shares of the company’s stock worth $1,251,000 after buying an additional 4,945 shares during the last quarter. Twin Capital Management Inc. purchased a new position in shares of Novo Nordisk A/S in the 4th quarter worth $213,000. Peterson Wealth Services boosted its stake in shares of Novo Nordisk A/S by 1.1% in the 4th quarter. Peterson Wealth Services now owns 40,604 shares of the company’s stock worth $4,201,000 after buying an additional 435 shares during the last quarter. Finally, Key Financial Inc boosted its stake in shares of Novo Nordisk A/S by 8.5% in the 4th quarter. Key Financial Inc now owns 4,330 shares of the company’s stock worth $448,000 after buying an additional 340 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

NYSE:NVO traded up $1.02 on Friday, reaching $123.77. 1,778,590 shares of the company’s stock traded hands, compared to its average volume of 4,836,222. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.19. The stock has a 50-day simple moving average of $126.36 and a 200-day simple moving average of $110.50. The firm has a market cap of $555.42 billion, a PE ratio of 45.62, a P/E/G ratio of 2.08 and a beta of 0.41. Novo Nordisk A/S has a 12 month low of $75.56 and a 12 month high of $138.28.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The business had revenue of $9.51 billion for the quarter, compared to analysts’ expectations of $9.14 billion. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. Equities research analysts forecast that Novo Nordisk A/S will post 3.32 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 25th were issued a dividend of $0.664 per share. The ex-dividend date was Friday, March 22nd. This is a boost from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. This represents a yield of 0.9%. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 49.17%.

Analyst Upgrades and Downgrades

NVO has been the topic of a number of research reports. UBS Group initiated coverage on Novo Nordisk A/S in a research note on Tuesday, January 16th. They issued a “neutral” rating on the stock. BMO Capital Markets initiated coverage on Novo Nordisk A/S in a research report on Friday, April 12th. They set an “outperform” rating and a $163.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday. Finally, Morgan Stanley initiated coverage on Novo Nordisk A/S in a research report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $133.60.

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.