Elevate Capital Advisors LLC Takes $1.13 Million Position in Novo Nordisk A/S (NYSE:NVO)

Elevate Capital Advisors LLC bought a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the 4th quarter, HoldingsChannel.com reports. The fund bought 13,167 shares of the company’s stock, valued at approximately $1,133,000.

Other large investors have also bought and sold shares of the company. Daiwa Securities Group Inc. acquired a new stake in shares of Novo Nordisk A/S in the 3rd quarter valued at about $28,000. Capital Performance Advisors LLP bought a new position in Novo Nordisk A/S in the third quarter worth approximately $42,000. Albion Financial Group UT grew its stake in Novo Nordisk A/S by 121.4% in the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after acquiring an additional 278 shares during the period. Sound Income Strategies LLC increased its holdings in shares of Novo Nordisk A/S by 82.1% during the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock valued at $46,000 after acquiring an additional 243 shares in the last quarter. Finally, Hager Investment Management Services LLC acquired a new position in shares of Novo Nordisk A/S during the fourth quarter worth approximately $46,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. BMO Capital Markets dropped 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 research report on Monday, December 23rd. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Finally, BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $145.25.

Novo Nordisk A/S Trading Down 0.9 %

Shares of NVO stock opened at $86.39 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.75 and a current ratio of 0.74. The company has a market capitalization of $387.66 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 0.96 and a beta of 0.45. Novo Nordisk A/S has a 52-week low of $78.17 and a 52-week high of $148.15. The company has a 50-day simple moving average of $91.46 and a two-hundred day simple moving average of $111.36.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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%. Research analysts anticipate that Novo Nordisk A/S will post 3.86 EPS 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. 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 a boost 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 payout ratio is presently 21.88%.

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.