Kornitzer Capital Management Inc. KS Cuts Stock Position in Novo Nordisk A/S (NYSE:NVO)

Kornitzer Capital Management Inc. KS cut its position in shares of Novo Nordisk A/S (NYSE:NVO) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 155,462 shares of the company’s stock after selling 749 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Novo Nordisk A/S were worth $13,373,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Creative Planning lifted its holdings in shares of Novo Nordisk A/S by 4.7% in the 3rd quarter. Creative Planning now owns 294,799 shares of the company’s stock worth $35,102,000 after acquiring an additional 13,203 shares during the last quarter. Resonant Capital Advisors LLC raised its position in Novo Nordisk A/S by 3.1% in the 3rd quarter. Resonant Capital Advisors LLC now owns 7,047 shares of the company’s stock worth $839,000 after purchasing an additional 212 shares during the period. New Century Financial Group LLC lifted its stake in Novo Nordisk A/S by 12.9% in the third quarter. New Century Financial Group LLC now owns 1,954 shares of the company’s stock worth $233,000 after purchasing an additional 224 shares during the last quarter. Cyndeo Wealth Partners LLC boosted its position in Novo Nordisk A/S by 12.8% during the third quarter. Cyndeo Wealth Partners LLC now owns 3,671 shares of the company’s stock valued at $437,000 after buying an additional 418 shares during the period. Finally, OLD National Bancorp IN grew its stake in shares of Novo Nordisk A/S by 30.5% during the third quarter. OLD National Bancorp IN now owns 4,399 shares of the company’s stock valued at $524,000 after buying an additional 1,027 shares during the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $77.94 on Tuesday. The firm has a market capitalization of $349.75 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 0.96 and a beta of 0.45. The stock has a fifty day moving average of $88.65 and a 200 day moving average of $109.54. Novo Nordisk A/S has a 52 week low of $77.82 and a 52 week high of $148.15. 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 posted its earnings results on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, topping the consensus estimate 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, research analysts expect 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 announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be given a $0.7874 dividend. The ex-dividend date is Monday, March 31st. This represents a dividend yield of 1.2%. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio is currently 21.88%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NVO. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Finally, BMO Capital Markets cut their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.