Spinnaker Trust Lowers Holdings in Novo Nordisk A/S (NYSE:NVO)

Spinnaker Trust decreased its holdings in Novo Nordisk A/S (NYSE:NVO) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,560 shares of the company’s stock after selling 104 shares during the quarter. Spinnaker Trust’s holdings in Novo Nordisk A/S were worth $989,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Jennison Associates LLC raised its position in Novo Nordisk A/S by 100.3% in the 3rd quarter. Jennison Associates LLC now owns 23,419,405 shares of the company’s stock worth $2,129,761,000 after buying an additional 11,727,507 shares during the last quarter. FMR LLC grew its stake in shares of Novo Nordisk A/S by 122.7% during the 3rd quarter. FMR LLC now owns 12,077,501 shares of the company’s stock valued at $1,098,328,000 after purchasing an additional 6,654,614 shares during the period. Morgan Stanley grew its stake in shares of Novo Nordisk A/S by 96.5% during the 3rd quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock valued at $838,021,000 after purchasing an additional 4,526,199 shares during the period. Loomis Sayles & Co. L P grew its stake in shares of Novo Nordisk A/S by 91.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock valued at $827,354,000 after purchasing an additional 4,350,862 shares during the period. Finally, Polen Capital Management LLC bought a new stake in shares of Novo Nordisk A/S during the 3rd quarter valued at about $718,995,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NVO traded up $1.06 during trading on Friday, reaching $126.85. 3,312,457 shares of the company traded hands, compared to its average volume of 3,307,405. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.64 and a current ratio of 0.82. Novo Nordisk A/S has a 12-month low of $75.56 and a 12-month high of $138.28. The firm has a fifty day simple moving average of $126.86 and a 200 day simple moving average of $111.98. The company has a market cap of $569.24 billion, a P/E ratio of 46.90, a PEG ratio of 2.10 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $9.51 billion during the quarter, compared to the consensus estimate of $9.14 billion. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. On average, equities analysts forecast that Novo Nordisk A/S will post 3.32 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 25th were given a dividend of $0.664 per share. This is an increase from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, March 22nd. Novo Nordisk A/S’s dividend payout ratio is currently 49.17%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NVO shares. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 target price for the company. BMO Capital Markets started coverage on shares of Novo Nordisk A/S in a report on Friday, April 12th. They issued an “outperform” rating and a $163.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday, April 18th. Finally, UBS Group started coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 16th. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.60.

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.