Sage Mountain Advisors LLC Reduces Stock Position in Novo Nordisk A/S (NYSE:NVO)

Sage Mountain Advisors LLC decreased its holdings in Novo Nordisk A/S (NYSE:NVO) by 12.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,759 shares of the company’s stock after selling 838 shares during the period. Sage Mountain Advisors LLC’s holdings in Novo Nordisk A/S were worth $495,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Raymond James Financial Inc. bought a new position in Novo Nordisk A/S in the 4th quarter worth about $404,910,000. Amundi boosted its holdings in shares of Novo Nordisk A/S by 26.4% in the fourth quarter. Amundi now owns 3,311,456 shares of the company’s stock valued at $283,615,000 after purchasing an additional 692,567 shares during the period. DAVENPORT & Co LLC grew its stake in Novo Nordisk A/S by 75.1% in the fourth quarter. DAVENPORT & Co LLC now owns 1,052,712 shares of the company’s stock worth $90,477,000 after purchasing an additional 451,641 shares in the last quarter. Wellington Management Group LLP purchased a new position in Novo Nordisk A/S during the 3rd quarter worth $42,017,000. Finally, DSM Capital Partners LLC raised its position in Novo Nordisk A/S by 16.7% during the 4th quarter. DSM Capital Partners LLC now owns 2,007,412 shares of the company’s stock valued at $172,678,000 after purchasing an additional 286,912 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. BMO Capital Markets reduced their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Finally, Stifel Nicolaus lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $78.14 on Wednesday. Novo Nordisk A/S has a one year low of $73.28 and a one year high of $148.15. The company has a market capitalization of $350.63 billion, a PE ratio of 23.75, a P/E/G ratio of 0.90 and a beta of 0.42. 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 company has a 50-day simple moving average of $84.61 and a two-hundred day simple moving average of $104.04.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 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%. Research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

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