Paragon Private Wealth Management LLC Lowers Position in Novo Nordisk A/S (NYSE:NVO)

Paragon Private Wealth Management LLC trimmed its stake in Novo Nordisk A/S (NYSE:NVO) by 13.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,655 shares of the company’s stock after selling 552 shares during the quarter. Paragon Private Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $314,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of NVO. Center for Financial Planning Inc. lifted its position in Novo Nordisk A/S by 72.4% during the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after buying an additional 123 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Novo Nordisk A/S during the third quarter valued at approximately $28,000. Capital Performance Advisors LLP acquired a new position in Novo Nordisk A/S during the third quarter valued at approximately $42,000. Albion Financial Group UT lifted its position in Novo Nordisk A/S by 121.4% during the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after buying an additional 278 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its position in Novo Nordisk A/S by 82.1% during the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock valued at $46,000 after buying 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 Stock Down 9.5 %

Shares of NYSE:NVO opened at $78.87 on Tuesday. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The company has a fifty day simple moving average of $84.77 and a 200 day simple moving average of $104.45. The firm has a market cap of $353.91 billion, a PE ratio of 23.97, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42. Novo Nordisk A/S has a 12-month low of $77.79 and a 12-month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. On average, equities research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.7874 per share. 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 presently 47.72%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. BMO Capital Markets reduced their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research report on Wednesday, February 12th. They set an “equal weight” rating on the stock. Finally, BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.