Potomac Fund Management Inc. ADV Invests $1.24 Million in Novo Nordisk A/S (NYSE:NVO)

Potomac Fund Management Inc. ADV bought a new stake in Novo Nordisk A/S (NYSE:NVO) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 14,360 shares of the company’s stock, valued at approximately $1,235,000. Novo Nordisk A/S comprises about 1.1% of Potomac Fund Management Inc. ADV’s investment portfolio, making the stock its 22nd largest holding.

Several other institutional investors also recently bought and sold shares of the stock. Menard Financial Group LLC lifted its position in Novo Nordisk A/S by 0.8% in the third quarter. Menard Financial Group LLC now owns 12,283 shares of the company’s stock valued at $1,463,000 after purchasing an additional 102 shares during the last quarter. Optimist Retirement Group LLC increased its stake in shares of Novo Nordisk A/S by 4.3% in the third quarter. Optimist Retirement Group LLC now owns 2,747 shares of the company’s stock worth $327,000 after buying an additional 112 shares during the period. M. Kulyk & Associates LLC raised its holdings in Novo Nordisk A/S by 3.9% during the 4th quarter. M. Kulyk & Associates LLC now owns 3,182 shares of the company’s stock valued at $274,000 after buying an additional 119 shares during the last quarter. Center for Financial Planning Inc. boosted 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 during the period. Finally, Tradewinds Capital Management LLC grew its holdings in Novo Nordisk A/S by 2.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 4,984 shares of the company’s stock worth $429,000 after acquiring an additional 124 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 2.1 %

NVO opened at $68.00 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. Novo Nordisk A/S has a 52 week low of $66.81 and a 52 week high of $148.15. The stock has a market cap of $305.16 billion, a PE ratio of 20.67, a PEG ratio of 0.90 and a beta of 0.42. The business has a 50 day moving average of $81.89 and a 200-day moving average of $97.68.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates 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%. Equities research analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.7874 per share. 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. This represents a dividend yield of 1.2%. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 47.72%.

Wall Street Analyst Weigh In

NVO has been the subject of several recent analyst reports. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Morgan Stanley initiated coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an “equal weight” rating for the company. BMO Capital Markets reduced their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Finally, Stifel Nicolaus downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $145.25.

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.