Synergy Investment Management LLC Takes Position in Novo Nordisk A/S (NYSE:NVO)

Synergy Investment Management LLC purchased a new stake in Novo Nordisk A/S (NYSE:NVO) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,120 shares of the company’s stock, valued at approximately $96,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Spinnaker Trust grew its position in shares of Novo Nordisk A/S by 1.1% in the third quarter. Spinnaker Trust now owns 9,615 shares of the company’s stock valued at $1,145,000 after purchasing an additional 100 shares during the last quarter. Marco Investment Management LLC grew its position in Novo Nordisk A/S by 1.5% during the third quarter. Marco Investment Management LLC now owns 6,702 shares of the company’s stock worth $798,000 after buying an additional 100 shares in the last quarter. Carr Financial Group Corp grew its position in Novo Nordisk A/S by 5.1% during the third quarter. Carr Financial Group Corp now owns 2,100 shares of the company’s stock worth $250,000 after buying an additional 101 shares in the last quarter. Menard Financial Group LLC grew its position in Novo Nordisk A/S by 0.8% during the third quarter. Menard Financial Group LLC now owns 12,283 shares of the company’s stock worth $1,463,000 after buying an additional 102 shares in the last quarter. Finally, Optimist Retirement Group LLC grew its position in Novo Nordisk A/S by 4.3% during the third quarter. Optimist Retirement Group LLC now owns 2,747 shares of the company’s stock worth $327,000 after buying an additional 112 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Down 2.2 %

Shares of NVO opened at $87.39 on Wednesday. Novo Nordisk A/S has a 12 month low of $77.82 and a 12 month high of $148.15. The company has a 50-day moving average price of $84.84 and a two-hundred day moving average price of $105.85. 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 stock has a market cap of $392.17 billion, a price-to-earnings ratio of 26.56, a P/E/G ratio of 0.90 and a beta of 0.45.

Novo Nordisk A/S (NYSE:NVO) last posted 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 net margin of 34.81% and a return on equity of 84.68%. Equities analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business 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 $0.7874 dividend. This represents a yield of 1.2%. 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. Novo Nordisk A/S’s payout ratio is 47.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NVO shares. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. BMO Capital Markets decreased 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 report on Monday, December 23rd. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Stifel Nicolaus cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate 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.