Csenge Advisory Group Trims Stock Position in Novo Nordisk A/S (NYSE:NVO)

Csenge Advisory Group lowered its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 62.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 10,458 shares of the company’s stock after selling 17,649 shares during the quarter. Csenge Advisory Group’s holdings in Novo Nordisk A/S were worth $900,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NVO. Center for Financial Planning Inc. increased its position in shares of Novo Nordisk A/S by 72.4% during the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after purchasing an additional 123 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Novo Nordisk A/S during the 3rd quarter valued at about $28,000. Capital Performance Advisors LLP purchased a new stake in shares of Novo Nordisk A/S during the 3rd quarter valued at about $42,000. Albion Financial Group UT increased 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 purchasing an additional 278 shares during the last quarter. Finally, Sound Income Strategies LLC increased its position in shares of Novo Nordisk A/S by 82.1% during the 4th quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock valued at $46,000 after purchasing an additional 243 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 1.1 %

NVO stock opened at $77.94 on Tuesday. Novo Nordisk A/S has a 1-year low of $77.82 and a 1-year high of $148.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.75. The company has a market capitalization of $349.75 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 0.96 and a beta of 0.45. The business has a 50 day simple moving average of $88.65 and a two-hundred day simple moving average of $109.54.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping 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%. Research analysts anticipate that Novo Nordisk A/S will post 3.86 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be paid a $0.7874 dividend. This represents a 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 is Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio is presently 21.88%.

Analyst Ratings Changes

Several equities research analysts have recently commented 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 for the company in a research report on Monday, December 23rd. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Finally, BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

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.