OmniStar Financial Group Inc. Boosts Stake in Novo Nordisk A/S (NYSE:NVO)

OmniStar Financial Group Inc. increased its position in Novo Nordisk A/S (NYSE:NVO) by 2.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 6,255 shares of the company’s stock after purchasing an additional 163 shares during the period. OmniStar Financial Group Inc.’s holdings in Novo Nordisk A/S were worth $647,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Jennison Associates LLC increased its position in Novo Nordisk A/S by 100.3% in the 3rd quarter. Jennison Associates LLC now owns 23,419,405 shares of the company’s stock valued at $2,129,761,000 after acquiring an additional 11,727,507 shares during the period. Polen Capital Management LLC acquired a new position in Novo Nordisk A/S in the 3rd quarter valued at about $718,995,000. FMR LLC increased its position in Novo Nordisk A/S by 122.7% in the 3rd quarter. FMR LLC now owns 12,077,501 shares of the company’s stock valued at $1,098,328,000 after acquiring an additional 6,654,614 shares during the period. Morgan Stanley increased its position in Novo Nordisk A/S by 96.5% in the 3rd quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock valued at $838,021,000 after acquiring an additional 4,526,199 shares during the period. Finally, Loomis Sayles & Co. L P increased its position in Novo Nordisk A/S by 91.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock valued at $827,354,000 after acquiring an additional 4,350,862 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

Shares of NVO traded up $0.35 on Tuesday, reaching $129.40. The stock had a trading volume of 4,217,089 shares, compared to its average volume of 5,281,713. The firm has a market capitalization of $580.69 billion, a PE ratio of 47.84, a PEG ratio of 2.12 and a beta of 0.41. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average of $120.88 and a 200 day moving average of $103.65. Novo Nordisk A/S has a twelve month low of $75.56 and a twelve month high of $138.28.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. The firm had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.14 billion. Sell-side analysts expect that Novo Nordisk A/S will post 3.35 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Tuesday, April 2nd. Investors of record on Monday, March 25th will be paid a $0.664 dividend. The ex-dividend date is Friday, March 22nd. This represents a yield of 0.9%. This is a positive change from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. Novo Nordisk A/S’s dividend payout ratio is presently 49.17%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley began coverage on Novo Nordisk A/S in a research report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price target on the stock. TD Cowen boosted their target price on Novo Nordisk A/S from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, December 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, March 20th. Finally, UBS Group began coverage on Novo Nordisk A/S in a research report on Tuesday, January 16th. They set a “neutral” rating on the stock. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and an average price target of $126.25.

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.