BIP Wealth LLC Sells 150 Shares of Novo Nordisk A/S (NYSE:NVO)

BIP Wealth LLC cut its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 6.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,302 shares of the company’s stock after selling 150 shares during the quarter. BIP Wealth LLC’s holdings in Novo Nordisk A/S were worth $238,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in NVO. Jennison Associates LLC increased its holdings in shares of Novo Nordisk A/S by 100.3% during the third quarter. Jennison Associates LLC now owns 23,419,405 shares of the company’s stock worth $2,129,761,000 after purchasing an additional 11,727,507 shares during the period. Polen Capital Management LLC bought a new position in shares of Novo Nordisk A/S during the third quarter worth approximately $718,995,000. FMR LLC boosted its position in shares of Novo Nordisk A/S by 122.7% during the 3rd quarter. FMR LLC now owns 12,077,501 shares of the company’s stock worth $1,098,328,000 after acquiring an additional 6,654,614 shares in the last quarter. Morgan Stanley boosted its position in shares of Novo Nordisk A/S by 96.5% during the 3rd quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock worth $838,021,000 after acquiring an additional 4,526,199 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in shares of Novo Nordisk A/S by 91.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock worth $827,354,000 after acquiring an additional 4,350,862 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Novo Nordisk A/S in a research report on Friday, April 12th. They set an “outperform” rating and a $163.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Thursday, April 18th. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 price target on the stock. Finally, UBS Group assumed coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 16th. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.60.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock traded down $0.96 during mid-day trading on Thursday, reaching $125.20. The company had a trading volume of 1,936,471 shares, compared to its average volume of 4,797,197. Novo Nordisk A/S has a fifty-two week low of $75.56 and a fifty-two week high of $138.28. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.19. The company has a market cap of $561.84 billion, a P/E ratio of 46.21, a P/E/G ratio of 2.15 and a beta of 0.41. The business has a fifty day simple moving average of $126.72 and a 200 day simple moving average of $111.64.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The company had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.14 billion. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. On average, equities research analysts predict 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. Stockholders of record on Monday, March 25th were issued a dividend of $0.664 per share. This represents a dividend yield of 0.9%. The ex-dividend date was Friday, March 22nd. This is a positive change from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. Novo Nordisk A/S’s payout ratio is 49.17%.

About Novo Nordisk A/S

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.