Novo Nordisk A/S (NYSE:NVO) Shares Sold by Princeton Capital Management LLC

Princeton Capital Management LLC cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,287 shares of the company’s stock after selling 753 shares during the quarter. Novo Nordisk A/S comprises 1.3% of Princeton Capital Management LLC’s holdings, making the stock its 16th largest position. Princeton Capital Management LLC’s holdings in Novo Nordisk A/S were worth $4,154,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Daiwa Securities Group Inc. acquired a new stake in Novo Nordisk A/S in the 3rd quarter worth approximately $28,000. Center for Financial Planning Inc. raised its holdings in shares of Novo Nordisk A/S by 72.4% in the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after buying an additional 123 shares during the last quarter. Dunhill Financial LLC lifted its stake in shares of Novo Nordisk A/S by 196.8% during the third quarter. Dunhill Financial LLC now owns 469 shares of the company’s stock worth $56,000 after buying an additional 311 shares during the period. Albion Financial Group UT grew its holdings in shares of Novo Nordisk A/S by 121.4% during the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after buying an additional 278 shares during the last quarter. Finally, Hager Investment Management Services LLC acquired a new position in shares of Novo Nordisk A/S in the 4th quarter valued at $46,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on NVO. Kepler Capital Markets upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. BMO Capital Markets cut their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a research report on Wednesday, February 12th. They set an “equal weight” rating for the company. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Finally, UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Stock Down 2.0 %

NVO stock opened at $75.30 on Tuesday. Novo Nordisk A/S has a one year low of $73.80 and a one year high of $148.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. The firm’s fifty day moving average is $83.16 and its 200 day moving average is $100.35. The firm has a market cap of $337.91 billion, a PE ratio of 22.89, a P/E/G ratio of 0.90 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last posted 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 net margin of 34.81% and a return on equity of 84.68%. On average, research analysts forecast that Novo Nordisk A/S will post 3.84 EPS 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. Stockholders of record on Monday, March 31st will be paid a dividend of $0.7874 per share. This represents a dividend yield of 1.2%. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio is presently 47.72%.

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.