Migdal Insurance & Financial Holdings Ltd. Boosts Stock Position in Novo Nordisk A/S (NYSE:NVO)

Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 18.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,446 shares of the company’s stock after buying an additional 1,300 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Novo Nordisk A/S were worth $874,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pacific Center for Financial Services boosted its position in shares of Novo Nordisk A/S by 100.0% during the 3rd quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. Copeland Capital Management LLC boosted its holdings in Novo Nordisk A/S by 100.0% in the 3rd quarter. Copeland Capital Management LLC now owns 282 shares of the company’s stock valued at $26,000 after purchasing an additional 141 shares during the last quarter. Bell Investment Advisors Inc grew its stake in shares of Novo Nordisk A/S by 79.9% in the 3rd quarter. Bell Investment Advisors Inc now owns 286 shares of the company’s stock valued at $26,000 after buying an additional 127 shares during the period. Citizens National Bank Trust Department increased its holdings in shares of Novo Nordisk A/S by 100.0% during the 3rd quarter. Citizens National Bank Trust Department now owns 300 shares of the company’s stock worth $27,000 after buying an additional 150 shares during the last quarter. Finally, Tyler Stone Wealth Management raised its position in shares of Novo Nordisk A/S by 100.0% during the 3rd quarter. Tyler Stone Wealth Management now owns 292 shares of the company’s stock valued at $27,000 after buying an additional 146 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $124.55 on Thursday. The stock has a market capitalization of $558.92 billion, a price-to-earnings ratio of 46.04, a price-to-earnings-growth ratio of 2.06 and a beta of 0.41. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.64. The business has a 50-day moving average of $126.28 and a 200 day moving average of $110.42. Novo Nordisk A/S has a 12 month low of $75.56 and a 12 month high of $138.28.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. The business had revenue of $9.51 billion during the quarter, compared to analyst estimates of $9.14 billion. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. As a group, sell-side analysts forecast that Novo Nordisk A/S will post 3.33 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 25th were paid a $0.664 dividend. This is a boost from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. This represents a dividend yield of 0.9%. The ex-dividend date was Friday, March 22nd. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 49.17%.

Analyst Ratings Changes

Several brokerages recently weighed in on NVO. BMO Capital Markets initiated coverage on Novo Nordisk A/S in a research report on Friday, April 12th. They issued an “outperform” rating and a $163.00 price objective for the company. UBS Group started coverage on Novo Nordisk A/S in a research report on Tuesday, January 16th. They set a “neutral” rating for the company. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday, April 1st. Two equities research analysts have 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 presently has a consensus rating of “Moderate Buy” and an average target price of $133.60.

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.