Summit Financial LLC Has $913,000 Stock Position in Novo Nordisk A/S (NYSE:NVO)

Summit Financial LLC grew its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 122.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,617 shares of the company’s stock after acquiring an additional 5,837 shares during the period. Summit Financial LLC’s holdings in Novo Nordisk A/S were worth $913,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in Novo Nordisk A/S by 58.5% in the 4th quarter. Victory Capital Management Inc. now owns 62,897 shares of the company’s stock valued at $5,410,000 after acquiring an additional 23,223 shares in the last quarter. Norman Fields Gottscho Capital Management LLC lifted its position in Novo Nordisk A/S by 45.3% during the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company’s stock worth $5,482,000 after purchasing an additional 19,870 shares during the period. Bryn Mawr Capital Management LLC grew its stake in Novo Nordisk A/S by 358.8% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 38,898 shares of the company’s stock worth $3,346,000 after buying an additional 30,420 shares in the last quarter. Versant Capital Management Inc bought a new position in Novo Nordisk A/S in the 4th quarter valued at about $86,000. Finally, Talbot Financial LLC acquired a new position in shares of Novo Nordisk A/S in the 4th quarter valued at approximately $4,066,000. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Trading Up 0.2 %

NYSE NVO opened at $68.20 on Thursday. The firm has a market capitalization of $306.05 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42. The business’s 50-day moving average price is $81.64 and its two-hundred day moving average price is $97.47. 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 $66.88 and a 12 month high of $148.15.

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

Novo Nordisk A/S Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be paid a dividend of $0.7874 per share. This represents a yield of 1.2%. The ex-dividend date is Monday, March 31st. 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 (DPR) is currently 47.72%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Stifel Nicolaus downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Morgan Stanley began coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They set an “equal weight” rating on the stock. Finally, BMO Capital Markets lowered their target price on 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. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.25.

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.