Meritage Portfolio Management Purchases 16,159 Shares of Novo Nordisk A/S (NYSE:NVO)

Meritage Portfolio Management lifted its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 6.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 249,059 shares of the company’s stock after acquiring an additional 16,159 shares during the period. Novo Nordisk A/S accounts for about 1.7% of Meritage Portfolio Management’s holdings, making the stock its 5th biggest position. Meritage Portfolio Management’s holdings in Novo Nordisk A/S were worth $25,765,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NVO. Clarius Group LLC increased its stake in Novo Nordisk A/S by 0.5% in the 4th quarter. Clarius Group LLC now owns 18,505 shares of the company’s stock valued at $1,914,000 after buying an additional 93 shares during the period. Tradewinds Capital Management LLC increased its stake in shares of Novo Nordisk A/S by 2.0% during the fourth quarter. Tradewinds Capital Management LLC now owns 4,955 shares of the company’s stock worth $513,000 after acquiring an additional 95 shares during the period. Relyea Zuckerberg Hanson LLC raised its holdings in Novo Nordisk A/S by 3.2% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 3,159 shares of the company’s stock worth $327,000 after purchasing an additional 99 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in Novo Nordisk A/S by 3.5% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 2,960 shares of the company’s stock valued at $306,000 after purchasing an additional 100 shares during the period. Finally, Highlander Capital Management LLC boosted its holdings in Novo Nordisk A/S by 0.4% in the 4th quarter. Highlander Capital Management LLC now owns 25,100 shares of the company’s stock valued at $2,597,000 after purchasing an additional 100 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Up 1.3 %

NYSE:NVO traded up $1.58 on Friday, reaching $127.37. The stock had a trading volume of 2,346,717 shares, compared to its average volume of 4,785,250. The company has a 50-day moving average of $126.80 and a 200 day moving average of $111.74. 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 stock has a market cap of $571.58 billion, a P/E ratio of 47.01, a price-to-earnings-growth ratio of 2.11 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. The firm had revenue of $9.51 billion for the quarter, compared to analysts’ expectations 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, 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 disclosed a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 25th were paid a dividend of $0.664 per share. This is a positive change from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. The ex-dividend date was Friday, March 22nd. This represents a yield of 0.9%. Novo Nordisk A/S’s dividend payout ratio is 49.17%.

Analyst Upgrades and Downgrades

NVO has been the topic of a number of recent analyst reports. Morgan Stanley assumed coverage on Novo Nordisk A/S in a report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 price objective on the stock. BMO Capital Markets began coverage on shares of Novo Nordisk A/S in a research note on Friday, April 12th. They set an “outperform” rating and a $163.00 price target on the stock. UBS Group initiated coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 16th. They issued a “neutral” rating for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, April 18th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and an average target price 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.