Sigma Planning Corp Cuts Stake in Novo Nordisk A/S (NYSE:NVO)

Sigma Planning Corp cut its stake in Novo Nordisk A/S (NYSE:NVO) by 16.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,637 shares of the company’s stock after selling 1,923 shares during the quarter. Sigma Planning Corp’s holdings in Novo Nordisk A/S were worth $997,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NVO. Jennison Associates LLC raised its position in Novo Nordisk A/S by 100.3% in the third quarter. Jennison Associates LLC now owns 23,419,405 shares of the company’s stock valued at $2,129,761,000 after purchasing an additional 11,727,507 shares during the period. Polen Capital Management LLC purchased a new position in Novo Nordisk A/S in the third quarter valued at about $718,995,000. FMR LLC raised its position in Novo Nordisk A/S by 122.7% in the third 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 increased its position in shares of Novo Nordisk A/S by 96.5% during the third quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock worth $838,021,000 after acquiring an additional 4,526,199 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its position in shares of Novo Nordisk A/S by 91.7% during the third quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock worth $827,354,000 after acquiring an additional 4,350,862 shares during the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Up 2.7 %

Shares of Novo Nordisk A/S stock opened at $128.62 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.19. The firm has a market cap of $577.19 billion, a P/E ratio of 47.55, a P/E/G ratio of 2.09 and a beta of 0.41. Novo Nordisk A/S has a fifty-two week low of $75.56 and a fifty-two week high of $138.28. The business has a 50-day moving average price of $126.66 and a 200 day moving average price of $111.54.

Novo Nordisk A/S (NYSE:NVO) last issued 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. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. The company had revenue of $9.51 billion during the quarter, compared to the consensus estimate of $9.14 billion. On average, sell-side analysts forecast that Novo Nordisk A/S will post 3.32 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

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

Analyst Upgrades and Downgrades

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