XXEC Inc. Takes $1.58 Million Position in Novo Nordisk A/S (NYSE:NVO)

XXEC Inc. bought a new position in Novo Nordisk A/S (NYSE:NVO) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 18,327 shares of the company’s stock, valued at approximately $1,576,000. Novo Nordisk A/S comprises 1.3% of XXEC Inc.’s portfolio, making the stock its 21st largest holding.

Several other large investors have also added to or reduced their stakes in NVO. Wealth Advisory Solutions LLC boosted its holdings in Novo Nordisk A/S by 47.1% during the 4th quarter. Wealth Advisory Solutions LLC now owns 39,434 shares of the company’s stock worth $3,392,000 after acquiring an additional 12,629 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Novo Nordisk A/S by 58.5% during the fourth quarter. Victory Capital Management Inc. now owns 62,897 shares of the company’s stock worth $5,410,000 after purchasing an additional 23,223 shares during the last quarter. Keybank National Association OH grew its position in Novo Nordisk A/S by 1.5% in the 4th quarter. Keybank National Association OH now owns 66,497 shares of the company’s stock worth $5,720,000 after purchasing an additional 1,007 shares in the last quarter. Exencial Wealth Advisors LLC increased its stake in Novo Nordisk A/S by 0.5% in the 4th quarter. Exencial Wealth Advisors LLC now owns 23,094 shares of the company’s stock valued at $1,987,000 after buying an additional 124 shares during the last quarter. Finally, Synergy Investment Management LLC bought a new position in shares of Novo Nordisk A/S during the 4th quarter worth approximately $96,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NYSE NVO opened at $87.39 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The company has a market cap of $392.17 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45. Novo Nordisk A/S has a 52 week low of $77.82 and a 52 week high of $148.15. The firm’s 50-day simple moving average is $84.84 and its two-hundred day simple moving average is $105.85.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, beating 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%. Research analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be given a $0.7874 dividend. The ex-dividend date 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 payout ratio is 47.72%.

Analysts Set New Price Targets

Several research firms have recently issued reports on NVO. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday. Finally, BMO Capital Markets reduced their target price 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. Three investment 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 company currently has a consensus rating of “Moderate Buy” and an average price target 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.