Summit X LLC Sells 321 Shares of Novo Nordisk A/S (NYSE:NVO)

Summit X LLC lessened its stake in Novo Nordisk A/S (NYSE:NVO) by 4.0% during the fourth quarter, Holdings Channel reports. The firm owned 7,721 shares of the company’s stock after selling 321 shares during the period. Summit X LLC’s holdings in Novo Nordisk A/S were worth $664,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Folketrygdfondet lifted its holdings in Novo Nordisk A/S by 0.5% during the fourth quarter. Folketrygdfondet now owns 8,903,938 shares of the company’s stock worth $765,917,000 after acquiring an additional 40,313 shares during the period. Raymond James Financial Inc. bought a new stake in Novo Nordisk A/S during the fourth quarter worth $404,910,000. WCM Investment Management LLC lifted its holdings in Novo Nordisk A/S by 1.0% during the fourth quarter. WCM Investment Management LLC now owns 4,031,124 shares of the company’s stock worth $345,588,000 after acquiring an additional 40,475 shares during the period. Amundi lifted its holdings in Novo Nordisk A/S by 26.4% during the fourth quarter. Amundi now owns 3,311,456 shares of the company’s stock worth $283,615,000 after acquiring an additional 692,567 shares during the period. Finally, Natixis Advisors LLC lifted its holdings in Novo Nordisk A/S by 2.7% during the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after acquiring an additional 80,070 shares during the period. Institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Morgan Stanley assumed coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They set an “equal weight” rating on the stock. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Stifel Nicolaus downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. BMO Capital Markets decreased their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Finally, 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. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $145.25.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $78.14 on Wednesday. The stock has a market cap of $350.63 billion, a PE ratio of 23.75, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42. Novo Nordisk A/S has a fifty-two week low of $73.28 and a fifty-two week 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 stock has a fifty day moving average of $84.61 and a 200-day moving average of $104.04.

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

Novo Nordisk A/S Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a dividend yield of 1.2%. Novo Nordisk A/S’s payout ratio is 47.72%.

Novo Nordisk A/S 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.