Hourglass Capital LLC Has $1.63 Million Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Hourglass Capital LLC increased its position in Novo Nordisk A/S (NYSE:NVO) by 21.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 18,950 shares of the company’s stock after acquiring an additional 3,330 shares during the period. Hourglass Capital LLC’s holdings in Novo Nordisk A/S were worth $1,630,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in Novo Nordisk A/S by 10,608.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after acquiring an additional 1,796,635 shares during the period. Mediolanum International Funds Ltd acquired a new stake in shares of Novo Nordisk A/S during the third quarter worth $98,765,000. DAVENPORT & Co LLC grew its stake in shares of Novo Nordisk A/S by 75.1% during 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 during the period. Wellington Management Group LLP bought a new stake in Novo Nordisk A/S in the third quarter valued at about $42,017,000. Finally, World Investment Advisors LLC lifted its stake in Novo Nordisk A/S by 2,655.9% in the third quarter. World Investment Advisors LLC now owns 280,409 shares of the company’s stock valued at $33,388,000 after buying an additional 270,234 shares during the period. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Trading Down 1.1 %

Shares of NYSE:NVO opened at $77.94 on Friday. The firm has a market cap of $349.75 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 0.96 and a beta of 0.45. Novo Nordisk A/S has a 12 month low of $77.82 and a 12 month high of $148.15. The company’s fifty day simple moving average is $88.65 and its 200 day simple moving average is $109.83. 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 released its quarterly 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%. As a group, research analysts forecast that Novo Nordisk A/S will post 3.86 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders 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 represents a yield of 1.2%. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio is 21.88%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley started coverage on Novo Nordisk A/S in a research note on Wednesday. They issued an “equal weight” rating for the company. 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. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. BMO Capital Markets lowered their price objective on shares of 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, Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Two equities research analysts have 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $145.25.

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.