Stegent Equity Advisors Inc. Boosts Stake in Novo Nordisk A/S (NYSE:NVO)

Stegent Equity Advisors Inc. lifted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 34.4% during the 4th quarter, HoldingsChannel reports. The fund owned 23,157 shares of the company’s stock after purchasing an additional 5,924 shares during the period. Novo Nordisk A/S accounts for 2.0% of Stegent Equity Advisors Inc.’s portfolio, making the stock its 14th biggest position. Stegent Equity Advisors Inc.’s holdings in Novo Nordisk A/S were worth $1,992,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Center for Financial Planning Inc. boosted its stake 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 worth $25,000 after acquiring an additional 123 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Novo Nordisk A/S during the 3rd quarter worth about $28,000. Capital Performance Advisors LLP acquired a new position in shares of Novo Nordisk A/S during the 3rd quarter worth about $42,000. 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 worth $44,000 after purchasing an additional 278 shares during the last quarter. Finally, Sound Income Strategies LLC raised 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 worth $46,000 after purchasing an additional 243 shares during the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Cantor Fitzgerald restated 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. 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. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Two research 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 stock. According to data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and an average target price of $145.25.

Novo Nordisk A/S Stock Down 1.4 %

NVO stock opened at $89.67 on Thursday. The firm has a 50-day moving average of $84.99 and a two-hundred day moving average of $107.30. The company has a market cap of $402.41 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 0.90 and a beta of 0.45. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. Novo Nordisk A/S has a 12 month low of $77.82 and a 12 month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last announced 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%. As a group, analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be issued 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 an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 47.72%.

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.