Magellan Asset Management Ltd Grows Stake in Novo Nordisk A/S (NYSE:NVO)

Magellan Asset Management Ltd raised its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 16.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,812,781 shares of the company’s stock after purchasing an additional 400,953 shares during the period. Novo Nordisk A/S accounts for about 2.7% of Magellan Asset Management Ltd’s portfolio, making the stock its 17th biggest position. Magellan Asset Management Ltd owned about 0.06% of Novo Nordisk A/S worth $241,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Center for Financial Planning Inc. raised its holdings in 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 valued at $25,000 after buying an additional 123 shares during the period. Albion Financial Group UT lifted its holdings in shares of Novo Nordisk A/S by 121.4% in the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock worth $44,000 after acquiring an additional 278 shares during the last quarter. Sound Income Strategies LLC grew its holdings in Novo Nordisk A/S by 82.1% during the 4th quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock valued at $46,000 after purchasing an additional 243 shares during the last quarter. Hager Investment Management Services LLC purchased a new stake in Novo Nordisk A/S in the 4th quarter worth about $46,000. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in Novo Nordisk A/S in the fourth quarter worth about $47,000. 11.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 21st. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Stifel Nicolaus lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. BMO Capital Markets reduced 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 research note on Monday, December 23rd. Finally, Morgan Stanley started 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 investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Trading Up 0.2 %

NYSE NVO opened at $68.20 on Thursday. The company’s 50-day simple moving average is $81.64 and its two-hundred day simple moving average is $97.47. Novo Nordisk A/S has a one year low of $66.88 and a one year high of $148.15. The company has a market capitalization of $306.05 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74.

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

Novo Nordisk A/S Increases Dividend

The company 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 dividend of $0.7874 per share. 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. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio is presently 47.72%.

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.