13,167 Shares in Novo Nordisk A/S (NYSE:NVO) Purchased by Elevate Capital Advisors LLC

Elevate Capital Advisors LLC bought a new stake in Novo Nordisk A/S (NYSE:NVO) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 13,167 shares of the company’s stock, valued at approximately $1,133,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in NVO. CRA Financial Services LLC lifted its stake in Novo Nordisk A/S by 4.4% during the third quarter. CRA Financial Services LLC now owns 2,742 shares of the company’s stock worth $326,000 after purchasing an additional 116 shares during the last quarter. Brown Miller Wealth Management LLC lifted its position in shares of Novo Nordisk A/S by 2.9% during the 3rd quarter. Brown Miller Wealth Management LLC now owns 4,308 shares of the company’s stock worth $512,000 after buying an additional 122 shares during the last quarter. InTrack Investment Management Inc boosted its stake in Novo Nordisk A/S by 17.6% in the third quarter. InTrack Investment Management Inc now owns 4,608 shares of the company’s stock valued at $549,000 after buying an additional 689 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Novo Nordisk A/S by 40.3% in the third quarter. Exchange Traded Concepts LLC now owns 63,962 shares of the company’s stock valued at $7,616,000 after acquiring an additional 18,370 shares during the last quarter. Finally, Renaissance Investment Group LLC lifted its holdings in shares of Novo Nordisk A/S by 2.3% in the third quarter. Renaissance Investment Group LLC now owns 41,573 shares of the company’s stock worth $4,950,000 after acquiring an additional 932 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Finally, BMO Capital Markets cut their price target 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. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Buy” and an average price target of $145.25.

Novo Nordisk A/S Stock Down 0.9 %

Shares of NYSE:NVO opened at $86.39 on Monday. The firm has a market cap of $387.66 billion, a P/E ratio of 26.26, a P/E/G ratio of 0.96 and a beta of 0.45. Novo Nordisk A/S has a 12-month low of $78.17 and a 12-month high of $148.15. The business has a fifty day simple moving average of $91.46 and a 200 day simple moving average of $111.36. The company has a quick ratio of 0.75, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Analysts predict that Novo Nordisk A/S will post 3.86 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The company 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 dividend of $0.7874 per share. 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 dividend payout ratio is 21.88%.

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.