Cidel Asset Management Inc. Lowers Holdings in Novo Nordisk A/S (NYSE:NVO)

Cidel Asset Management Inc. cut its stake in Novo Nordisk A/S (NYSE:NVO) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,591 shares of the company’s stock after selling 1,312 shares during the quarter. Cidel Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $1,771,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of NVO. Novare Capital Management LLC boosted its holdings in Novo Nordisk A/S by 3.2% during the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock worth $325,000 after buying an additional 85 shares in the last quarter. Rosenberg Matthew Hamilton increased its stake in shares of Novo Nordisk A/S by 2.5% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 3,812 shares of the company’s stock valued at $454,000 after purchasing an additional 94 shares in the last quarter. Spinnaker Trust raised its holdings in Novo Nordisk A/S by 1.1% in the 3rd quarter. Spinnaker Trust now owns 9,615 shares of the company’s stock worth $1,145,000 after purchasing an additional 100 shares during the period. Marco Investment Management LLC boosted 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 purchasing an additional 100 shares in the last quarter. Finally, Carr Financial Group Corp grew its holdings in Novo Nordisk A/S by 5.1% in the third quarter. Carr Financial Group Corp now owns 2,100 shares of the company’s stock valued at $250,000 after purchasing an additional 101 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $86.39 on Friday. The company has a market cap of $387.66 billion, a P/E ratio of 26.26, a P/E/G ratio of 0.96 and a beta of 0.45. Novo Nordisk A/S has a twelve month low of $78.17 and a twelve month high of $148.15. The company’s 50-day moving average price is $91.86 and its 200-day moving average price is $111.83. The company has a current ratio of 0.74, a quick ratio of 0.75 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share 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%. On average, sell-side analysts forecast that Novo Nordisk A/S will post 3.86 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be issued a $0.7874 dividend. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a yield of 1.2%. The ex-dividend date is Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio is presently 21.88%.

Wall Street Analyst Weigh In

NVO has been the subject of several research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. 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. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Finally, UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. One research analyst has 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 data from MarketBeat, Novo Nordisk A/S currently has an average rating of “Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Company 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.