Bristlecone Advisors LLC Acquires 2,395 Shares of Novo Nordisk A/S (NYSE:NVO)

Bristlecone Advisors LLC lifted its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 24.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,293 shares of the company’s stock after acquiring an additional 2,395 shares during the quarter. Bristlecone Advisors LLC’s holdings in Novo Nordisk A/S were worth $1,057,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVO. International Assets Investment Management LLC grew its stake in Novo Nordisk A/S by 10,608.4% in the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after purchasing an additional 1,796,635 shares during the period. Mediolanum International Funds Ltd purchased a new stake in Novo Nordisk A/S in the third quarter worth $98,765,000. DAVENPORT & Co LLC grew its stake in Novo Nordisk A/S by 75.1% in the fourth quarter. DAVENPORT & Co LLC now owns 1,052,712 shares of the company’s stock worth $90,477,000 after purchasing an additional 451,641 shares during the period. Wellington Management Group LLP purchased a new stake in Novo Nordisk A/S in the third quarter worth $42,017,000. Finally, World Investment Advisors LLC grew its stake in Novo Nordisk A/S by 2,655.9% in the third quarter. World Investment Advisors LLC now owns 280,409 shares of the company’s stock worth $33,388,000 after purchasing an additional 270,234 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 2.9 %

Novo Nordisk A/S stock opened at $83.90 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.75. Novo Nordisk A/S has a one year low of $78.17 and a one year high of $148.15. The stock has a market capitalization of $376.48 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 0.96 and a beta of 0.45. The business’s fifty day moving average is $91.46 and its 200 day moving average is $111.21.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, beating 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, sell-side analysts predict that Novo Nordisk A/S will post 3.86 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be given a dividend of $0.7874 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a dividend yield of 1.2%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 21.88%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NVO shares. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Finally, BMO Capital Markets cut their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Buy” and an average price target of $145.25.

Novo Nordisk A/S 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.