Novo Nordisk A/S (NYSE:NVO) Shares Acquired by Magellan Asset Management Ltd

Magellan Asset Management Ltd increased its stake in Novo Nordisk A/S (NYSE:NVO) by 16.6% in the fourth quarter, Holdings Channel reports. 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 comprises 2.7% of Magellan Asset Management Ltd’s holdings, making the stock its 17th largest position. Magellan Asset Management Ltd’s holdings in Novo Nordisk A/S were worth $241,955,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its stake in shares of Novo Nordisk A/S by 58.5% during the fourth quarter. Victory Capital Management Inc. now owns 62,897 shares of the company’s stock worth $5,410,000 after buying an additional 23,223 shares during the period. Norman Fields Gottscho Capital Management LLC raised its stake in Novo Nordisk A/S by 45.3% in the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company’s stock worth $5,482,000 after acquiring an additional 19,870 shares during the last quarter. Bryn Mawr Capital Management LLC lifted its position in Novo Nordisk A/S by 358.8% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 38,898 shares of the company’s stock worth $3,346,000 after acquiring an additional 30,420 shares during the period. Versant Capital Management Inc acquired a new stake in Novo Nordisk A/S during the 4th quarter worth about $86,000. Finally, Talbot Financial LLC purchased a new stake in Novo Nordisk A/S during the 4th quarter valued at about $4,066,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO opened at $68.20 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. Novo Nordisk A/S has a 1 year low of $66.88 and a 1 year high of $148.15. The firm has a market capitalization of $306.05 billion, a PE ratio of 20.73, a P/E/G ratio of 0.90 and a beta of 0.42. The business’s 50 day moving average price is $81.64 and its 200-day moving average price is $97.47.

Novo Nordisk A/S (NYSE:NVO) last released 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%. As a group, equities research 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 company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be issued a $0.7874 dividend. The ex-dividend date of this dividend 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 47.72%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Stifel Nicolaus downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. BMO Capital Markets dropped their price objective 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. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Friday, March 21st. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Finally, Kepler Capital Markets upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $145.25.

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.