Novo Nordisk A/S (NYSE:NVO) Shares Acquired by Mystic Asset Management Inc.

Mystic Asset Management Inc. lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 1.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 13,185 shares of the company’s stock after buying an additional 150 shares during the quarter. Mystic Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $1,134,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in NVO. Axxcess Wealth Management LLC boosted its holdings in Novo Nordisk A/S by 8.3% in the fourth quarter. Axxcess Wealth Management LLC now owns 29,748 shares of the company’s stock worth $2,559,000 after purchasing an additional 2,285 shares during the period. Edgemoor Investment Advisors Inc. acquired a new position in Novo Nordisk A/S in the fourth quarter worth $1,306,000. GWN Securities Inc. acquired a new position in Novo Nordisk A/S in the fourth quarter worth $268,000. Glenview Trust co boosted its holdings in Novo Nordisk A/S by 55.8% in the fourth quarter. Glenview Trust co now owns 20,566 shares of the company’s stock worth $1,769,000 after purchasing an additional 7,369 shares during the period. Finally, Patten & Patten Inc. TN boosted its holdings in Novo Nordisk A/S by 480.5% in the fourth quarter. Patten & Patten Inc. TN now owns 21,855 shares of the company’s stock worth $1,880,000 after purchasing an additional 18,090 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $80.26 on Tuesday. Novo Nordisk A/S has a fifty-two week low of $73.80 and a fifty-two week high of $148.15. The firm’s 50-day simple moving average is $83.85 and its 200 day simple moving average is $102.39. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The stock has a market cap of $360.15 billion, a P/E ratio of 24.39, a P/E/G ratio of 0.90 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share 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 analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The firm 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 $0.7874 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a yield of 1.2%. Novo Nordisk A/S’s payout ratio is 47.72%.

Wall Street Analysts Forecast Growth

NVO has been the subject of a number of research reports. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Kepler Capital Markets raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Finally, Morgan Stanley began coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They set an “equal weight” rating for the company. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.