Novo Nordisk A/S (NYSE:NVO) Shares Sold by Renasant Bank

Renasant Bank cut its position in shares of Novo Nordisk A/S (NYSE:NVO) by 5.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,175 shares of the company’s stock after selling 327 shares during the quarter. Renasant Bank’s holdings in Novo Nordisk A/S were worth $445,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of NVO. Center for Financial Planning Inc. raised its stake in shares of Novo Nordisk A/S by 72.4% during the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after buying an additional 123 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in Novo Nordisk A/S in the 3rd quarter valued at about $28,000. Albion Financial Group UT increased its holdings in Novo Nordisk A/S by 121.4% during the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after acquiring an additional 278 shares in the last quarter. Sound Income Strategies LLC raised its position in Novo Nordisk A/S by 82.1% during the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock worth $46,000 after acquiring an additional 243 shares during the last quarter. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at about $46,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $75.76 on Friday. The stock has a fifty day moving average price of $84.15 and a 200 day moving average price of $103.64. Novo Nordisk A/S has a 52 week low of $73.80 and a 52 week high of $148.15. The firm has a market capitalization of $339.98 billion, a P/E ratio of 23.03, a PEG ratio of 0.90 and a beta of 0.42. 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 (NYSE:NVO) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates 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%. Equities research analysts anticipate that Novo Nordisk A/S will post 3.84 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 issued a $0.7874 dividend. This represents a dividend yield of 1.2%. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date is Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio (DPR) is 47.72%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Stifel Nicolaus cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Morgan Stanley initiated coverage on Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an “equal weight” rating on the stock. 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. Finally, StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Company 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.