Edgemoor Investment Advisors Inc. Acquires Shares of 15,184 Novo Nordisk A/S (NYSE:NVO)

Edgemoor Investment Advisors Inc. bought a new stake in Novo Nordisk A/S (NYSE:NVO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,184 shares of the company’s stock, valued at approximately $1,306,000.

Other institutional investors also recently modified their holdings of the company. Center for Financial Planning Inc. raised its stake in shares of Novo Nordisk A/S by 72.4% in the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after acquiring an additional 123 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Novo Nordisk A/S in the third quarter valued at approximately $28,000. Albion Financial Group UT raised its stake in shares of Novo Nordisk A/S by 121.4% in the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after acquiring an additional 278 shares during the last quarter. Sound Income Strategies LLC raised its stake in shares of Novo Nordisk A/S by 82.1% in the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock valued at $46,000 after acquiring an additional 243 shares during the last quarter. Finally, Hager Investment Management Services LLC bought a new position in shares of Novo Nordisk A/S in the fourth quarter valued at approximately $46,000. Institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

NVO has been the subject of several research analyst reports. BMO Capital Markets dropped their price objective 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 upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Thursday. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a research report on Wednesday, February 12th. They issued an “equal weight” rating for the company. Finally, Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Price Performance

NVO opened at $77.22 on Monday. The company has a fifty day moving average price of $83.95 and a two-hundred day moving average price of $102.79. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. Novo Nordisk A/S has a 52 week low of $73.80 and a 52 week high of $148.15. The firm has a market capitalization of $346.54 billion, a PE ratio of 23.47, a P/E/G ratio of 0.90 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, February 5th. The company reported $0.91 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 anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current 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 $0.7874 dividend. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date of this dividend is Monday, March 31st. This represents a dividend yield of 1.2%. Novo Nordisk A/S’s payout ratio is 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.