Channing Global Advisors LLC Invests $354,000 in Novo Nordisk A/S (NYSE:NVO)

Channing Global Advisors LLC bought a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the 4th quarter, HoldingsChannel reports. The fund bought 4,117 shares of the company’s stock, valued at approximately $354,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Daiwa Securities Group Inc. acquired a new position in shares of Novo Nordisk A/S during the 3rd quarter worth approximately $28,000. Capital Performance Advisors LLP acquired a new position in shares of Novo Nordisk A/S during the 3rd quarter worth approximately $42,000. Carolina Wealth Advisors LLC acquired a new position in shares of Novo Nordisk A/S during the 3rd quarter worth approximately $48,000. Dunhill Financial LLC raised its position in shares of Novo Nordisk A/S by 196.8% during the 3rd quarter. Dunhill Financial LLC now owns 469 shares of the company’s stock valued at $56,000 after buying an additional 311 shares during the period. Finally, Albion Financial Group UT raised its position in shares of Novo Nordisk A/S by 121.4% during the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after buying an additional 278 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Down 0.2 %

Shares of NYSE NVO opened at $83.78 on Wednesday. The firm has a market cap of $375.95 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 0.96 and a beta of 0.45. The company has a quick ratio of 0.75, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. Novo Nordisk A/S has a 52-week low of $78.17 and a 52-week high of $148.15. The business’s 50 day moving average is $90.45 and its two-hundred day moving average is $110.60.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Research analysts predict that Novo Nordisk A/S will post 3.86 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders 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 represents a dividend yield of 1.2%. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio is currently 21.88%.

Analyst Ratings Changes

Several research firms have recently commented on NVO. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. 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. Finally, Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research report on Wednesday. They set an “equal weight” rating on the stock. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and an average 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.