Key Financial Inc Boosts Holdings in Novo Nordisk A/S (NYSE:NVO)

Key Financial Inc increased its position in Novo Nordisk A/S (NYSE:NVO) by 8.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,330 shares of the company’s stock after buying an additional 340 shares during the quarter. Key Financial Inc’s holdings in Novo Nordisk A/S were worth $448,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in NVO. Jennison Associates LLC grew its stake in shares of Novo Nordisk A/S by 100.3% during 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 purchased a new position in Novo Nordisk A/S during the third quarter valued at approximately $718,995,000. FMR LLC increased its position in shares of Novo Nordisk A/S by 122.7% in the third quarter. FMR LLC now owns 12,077,501 shares of the company’s stock valued at $1,098,328,000 after buying an additional 6,654,614 shares in the last quarter. Morgan Stanley grew its holdings 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 buying an additional 4,526,199 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in shares of Novo Nordisk A/S by 91.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock worth $827,354,000 after purchasing an additional 4,350,862 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NVO. 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 Monday, April 1st. UBS Group assumed coverage on Novo Nordisk A/S in a research note on Tuesday, January 16th. They issued a “neutral” rating on the stock. BMO Capital Markets initiated coverage on Novo Nordisk A/S in a research note on Friday, April 12th. They set an “outperform” rating and a $163.00 price target for the company. Finally, Morgan Stanley initiated coverage on Novo Nordisk A/S in a research report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and an average price target of $133.60.

Novo Nordisk A/S Trading Up 0.9 %

Shares of NVO stock traded up $1.08 on Wednesday, hitting $124.53. The stock had a trading volume of 2,619,027 shares, compared to its average volume of 4,902,822. The firm has a market cap of $558.83 billion, a P/E ratio of 45.72, a PEG ratio of 2.06 and a beta of 0.41. Novo Nordisk A/S has a twelve month low of $75.56 and a twelve month high of $138.28. The company has a fifty day moving average price of $126.16 and a two-hundred day moving average price of $110.32. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.19.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.66 by $0.05. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. The firm had revenue of $9.51 billion for the quarter, compared to analysts’ expectations of $9.14 billion. As a group, analysts forecast that Novo Nordisk A/S will post 3.33 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 25th were given a dividend of $0.664 per share. This is a positive change from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. The ex-dividend date was Friday, March 22nd. This represents a dividend yield of 0.9%. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 48.89%.

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.