TrueMark Investments LLC Reduces Holdings in Novo Nordisk A/S (NYSE:NVO)

TrueMark Investments LLC reduced its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 7.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 12,156 shares of the company’s stock after selling 1,002 shares during the period. TrueMark Investments LLC’s holdings in Novo Nordisk A/S were worth $1,046,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its stake in shares of Novo Nordisk A/S by 2.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 79,660 shares of the company’s stock worth $9,485,000 after purchasing an additional 2,166 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Novo Nordisk A/S by 16.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 204,583 shares of the company’s stock worth $24,360,000 after buying an additional 28,988 shares during the period. Eagle Asset Management Inc. lifted its position in shares of Novo Nordisk A/S by 10.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 17,893 shares of the company’s stock valued at $2,131,000 after buying an additional 1,680 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in Novo Nordisk A/S in the 3rd quarter worth approximately $28,000. Finally, Brown Brothers Harriman & Co. increased its holdings in Novo Nordisk A/S by 4.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 37,367 shares of the company’s stock worth $4,449,000 after acquiring an additional 1,688 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 21st. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Stifel Nicolaus downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, BMO Capital Markets dropped their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Stock Down 2.3 %

Shares of NVO opened at $73.57 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The stock has a market capitalization of $330.15 billion, a price-to-earnings ratio of 22.36, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42. Novo Nordisk A/S has a 1 year low of $73.20 and a 1 year high of $148.15. The business’s 50 day simple moving average is $83.01 and its 200-day simple moving average is $99.94.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (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%. As a group, equities analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.7874 per share. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a yield of 1.2%. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S’s payout ratio is presently 47.72%.

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.