Summit Investment Advisors Inc. Lowers Holdings in Novo Nordisk A/S (NYSE:NVO)

Summit Investment Advisors Inc. lowered its holdings in Novo Nordisk A/S (NYSE:NVO) by 41.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 422 shares of the company’s stock after selling 300 shares during the period. Summit Investment Advisors Inc.’s holdings in Novo Nordisk A/S were worth $36,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NVO. Victory Capital Management Inc. increased its position 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 acquiring an additional 23,223 shares during the period. Norman Fields Gottscho Capital Management LLC grew its stake in Novo Nordisk A/S by 45.3% during the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company’s stock worth $5,482,000 after purchasing an additional 19,870 shares in the last quarter. Bryn Mawr Capital Management LLC increased its holdings 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 purchasing an additional 30,420 shares during the period. Versant Capital Management Inc acquired a new stake in Novo Nordisk A/S in the 4th quarter valued at about $86,000. Finally, Talbot Financial LLC purchased a new position in shares of Novo Nordisk A/S in the 4th quarter valued at about $4,066,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on NVO. 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. BMO Capital Markets restated a “market perform” rating and issued a $64.00 price objective (down from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Guggenheim downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 17th. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Hold” and a consensus target price of $135.00.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $61.30 on Thursday. 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 has a fifty-two week low of $57.00 and a fifty-two week high of $148.15. The firm has a 50-day simple moving average of $74.34 and a 200-day simple moving average of $90.56. The company has a market capitalization of $275.07 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 0.90 and a beta of 0.61.

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 the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. On average, 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 was paid on Tuesday, April 8th. Investors of record on Monday, March 31st were given a $0.7874 dividend. This represents a 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 was Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio (DPR) is 49.54%.

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.