Novo Nordisk A/S (NYSE:NVO) Stock Position Reduced by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC reduced its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 23.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,879 shares of the company's stock after selling 13,733 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Novo Nordisk A/S were worth $3,758,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Center for Financial Planning Inc. increased its holdings in shares of Novo Nordisk A/S by 72.4% during the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company's stock valued at $25,000 after purchasing an additional 123 shares during the period. Albion Financial Group UT grew its position in Novo Nordisk A/S by 121.4% in the 4th quarter. Albion Financial Group UT now owns 507 shares of the company's stock valued at $44,000 after buying an additional 278 shares in the last quarter. Sound Income Strategies LLC increased its stake in Novo Nordisk A/S by 82.1% during the 4th quarter. Sound Income Strategies LLC now owns 539 shares of the company's stock valued at $46,000 after buying an additional 243 shares during the period. Hager Investment Management Services LLC bought a new stake in shares of Novo Nordisk A/S during the 4th quarter worth about $46,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Novo Nordisk A/S in the 4th quarter worth approximately $47,000. Institutional investors own 11.54% of the company's stock.

Wall Street Analysts Forecast Growth

NVO has been the topic of several recent analyst reports. StockNews.com cut Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a report on Friday, March 21st. BMO Capital Markets cut their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an "outperform" rating for the company in a report on Monday, December 23rd. Stifel Nicolaus lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Kepler Capital Markets raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Finally, Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They issued an "equal weight" rating on the stock. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $145.25.

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Novo Nordisk A/S Trading Down 1.7 %

NYSE NVO traded down $1.16 on Thursday, hitting $67.08. 8,818,417 shares of the company were exchanged, compared to its average volume of 5,614,006. Novo Nordisk A/S has a twelve month low of $66.88 and a twelve month high of $148.15. The company's 50 day moving average price is $81.64 and its 200-day moving average price is $97.47. The firm has a market capitalization of $301.04 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42. 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 (NYSE:NVO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, beating 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%. Analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

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