Ironsides Asset Advisors LLC Sells 472 Shares of Novo Nordisk A/S (NYSE:NVO)

Ironsides Asset Advisors LLC decreased its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 7.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,286 shares of the company’s stock after selling 472 shares during the period. Ironsides Asset Advisors LLC’s holdings in Novo Nordisk A/S were worth $541,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in NVO. Center for Financial Planning Inc. increased its position in Novo Nordisk A/S by 72.4% during the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after buying an additional 123 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Novo Nordisk A/S during the third quarter valued at $28,000. Albion Financial Group UT raised its position in shares of Novo Nordisk A/S by 121.4% in the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock worth $44,000 after purchasing an additional 278 shares during the last quarter. Sound Income Strategies LLC boosted its stake in Novo Nordisk A/S by 82.1% in the 4th quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock worth $46,000 after purchasing an additional 243 shares in the last quarter. Finally, Hager Investment Management Services LLC purchased a new stake in Novo Nordisk A/S during the 4th quarter valued at about $46,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on NVO. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Stifel Nicolaus cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Morgan Stanley assumed coverage on Novo Nordisk A/S in a research note on Wednesday, February 12th. They issued an “equal weight” rating for the company. Finally, BMO Capital Markets dropped their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Stock Performance

NVO stock opened at $77.22 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. Novo Nordisk A/S has a 1 year low of $73.80 and a 1 year high of $148.15. The company has a market cap of $346.54 billion, a P/E ratio of 23.47, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42. The stock’s fifty day moving average price is $83.95 and its 200-day moving average price is $103.01.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be given a dividend of $0.7874 per share. This represents a yield of 1.2%. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date is Monday, March 31st. Novo Nordisk A/S’s payout ratio is 47.72%.

Novo Nordisk A/S Company 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.