South Street Advisors LLC Has $14.38 Million Position in Novo Nordisk A/S (NYSE:NVO)

South Street Advisors LLC reduced its stake in Novo Nordisk A/S (NYSE:NVO) by 10.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 167,161 shares of the company’s stock after selling 19,370 shares during the period. Novo Nordisk A/S accounts for 2.2% of South Street Advisors LLC’s holdings, making the stock its 20th largest holding. South Street Advisors LLC’s holdings in Novo Nordisk A/S were worth $14,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of NVO. Raymond James Financial Inc. acquired a new position in shares of Novo Nordisk A/S in the fourth quarter valued at about $404,910,000. Sustainable Growth Advisers LP grew its stake in shares of Novo Nordisk A/S by 23.6% in the fourth quarter. Sustainable Growth Advisers LP now owns 5,340,803 shares of the company’s stock valued at $459,416,000 after acquiring an additional 1,021,498 shares in the last quarter. Amundi grew its stake 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 acquiring an additional 692,567 shares in the last quarter. Parnassus Investments LLC acquired a new position in shares of Novo Nordisk A/S in the fourth quarter valued at about $51,072,000. Finally, DAVENPORT & Co LLC grew its stake in shares of 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 valued at $90,477,000 after acquiring an additional 451,641 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an “equal weight” rating on the stock. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 13th. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S has an average rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Stock Up 4.0 %

NVO stock opened at $80.26 on Tuesday. The stock has a market capitalization of $360.15 billion, a P/E ratio of 24.39, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. Novo Nordisk A/S has a 12 month low of $73.80 and a 12 month high of $148.15. The firm has a 50-day moving average price of $83.85 and a 200-day moving average price of $102.39.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, topping 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%. As a group, equities research analysts anticipate 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 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 47.72%.

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.