New York State Common Retirement Fund Purchases 52,568 Shares of Novo Nordisk A/S (NYSE:NVO)

New York State Common Retirement Fund increased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 66.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 131,236 shares of the company’s stock after acquiring an additional 52,568 shares during the period. New York State Common Retirement Fund’s holdings in Novo Nordisk A/S were worth $11,289,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of NVO. Center for Financial Planning Inc. increased its holdings in shares of Novo Nordisk A/S by 72.4% in the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after purchasing an additional 123 shares during the period. Daiwa Securities Group Inc. bought a new position in Novo Nordisk A/S in the 3rd quarter worth about $28,000. Capital Performance Advisors LLP purchased a new stake in shares of Novo Nordisk A/S in the 3rd quarter valued at about $42,000. Albion Financial Group UT grew its holdings in shares of Novo Nordisk A/S by 121.4% during the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock worth $44,000 after purchasing an additional 278 shares in the last quarter. Finally, Sound Income Strategies LLC grew its holdings in shares of Novo Nordisk A/S by 82.1% during the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock worth $46,000 after purchasing an additional 243 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

NVO opened at $90.58 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The stock’s 50 day simple moving average is $85.66 and its 200 day simple moving average is $107.72. The firm has a market cap of $406.48 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 0.90 and a beta of 0.45. Novo Nordisk A/S has a 1 year low of $77.82 and a 1 year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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, 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 company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.7874 per share. This represents a dividend yield of 1.2%. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio is 21.88%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They set an “equal weight” rating for the company. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. 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. According to data from MarketBeat, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Company Profile

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.