CIBC Asset Management Inc Acquires 3,989 Shares of Novo Nordisk A/S (NYSE:NVO)

CIBC Asset Management Inc raised its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,547 shares of the company's stock after purchasing an additional 3,989 shares during the quarter. CIBC Asset Management Inc's holdings in Novo Nordisk A/S were worth $6,254,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Rosenberg Matthew Hamilton grew its position 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 worth $454,000 after acquiring an additional 94 shares in the last quarter. Spinnaker Trust raised its stake in Novo Nordisk A/S by 1.1% during the 3rd quarter. Spinnaker Trust now owns 9,615 shares of the company's stock valued at $1,145,000 after acquiring an additional 100 shares in the last quarter. Marco Investment Management LLC lifted its holdings in Novo Nordisk A/S by 1.5% in 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 during the period. Carr Financial Group Corp boosted its holdings in shares of 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 acquiring an additional 101 shares in the last quarter. Finally, Menard Financial Group LLC increased its position in shares of Novo Nordisk A/S by 0.8% during the 3rd quarter. Menard Financial Group LLC now owns 12,283 shares of the company's stock valued at $1,463,000 after purchasing an additional 102 shares during the period. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Price Performance

Shares of NVO traded up $4.50 during trading hours on Friday, hitting $88.24. The stock had a trading volume of 11,857,022 shares, compared to its average volume of 9,151,162. The company's fifty day moving average is $86.39 and its two-hundred day moving average is $108.48. The stock has a market capitalization of $395.96 billion, a price-to-earnings ratio of 26.79, a P/E/G ratio of 0.90 and a beta of 0.45. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. Novo Nordisk A/S has a 52 week low of $77.82 and a 52 week high of $148.15.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be paid a $0.7874 dividend. The ex-dividend date is Monday, March 31st. This is a boost from Novo Nordisk A/S's previous semi-annual dividend of $0.51. This represents a dividend yield of 1.2%. Novo Nordisk A/S's dividend payout ratio is 47.72%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NVO shares. Morgan Stanley assumed coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an "equal weight" rating on the stock. BNP Paribas upgraded shares of Novo Nordisk A/S to a "strong-buy" rating in a report on Monday, December 2nd. BMO Capital Markets reduced their target price on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an "outperform" rating for the company in a research note on Monday, December 23rd. StockNews.com cut shares of Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a research note on Sunday, December 29th. Finally, UBS Group upgraded shares of Novo Nordisk A/S from a "sell" rating to a "buy" rating in a research note on Wednesday, January 8th. Two research 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 data from MarketBeat.com, Novo Nordisk A/S has an average rating of "Moderate Buy" and an average price target 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.