Summit Financial LLC Acquires 5,837 Shares of Novo Nordisk A/S (NYSE:NVO)

Summit Financial LLC increased its stake in Novo Nordisk A/S (NYSE:NVO) by 122.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,617 shares of the company’s stock after acquiring an additional 5,837 shares during the quarter. Summit Financial LLC’s holdings in Novo Nordisk A/S were worth $913,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

NVO has been the topic of a number of research reports. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 21st. Stifel Nicolaus lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Morgan Stanley initiated coverage on Novo Nordisk A/S in a research note 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, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $68.20 on Thursday. Novo Nordisk A/S has a 52 week low of $66.88 and a 52 week high of $148.15. The company’s 50 day moving average price is $81.64 and its two-hundred day moving average price is $97.47. The stock has a market cap of $306.05 billion, a P/E ratio of 20.73, a P/E/G ratio of 0.90 and a beta of 0.42. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping 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 analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current 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 given a $0.7874 dividend. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date is Monday, March 31st. This represents a yield of 1.2%. Novo Nordisk A/S’s payout ratio is currently 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.