29,679 Shares in Novo Nordisk A/S (NYSE:NVO) Purchased by Cumberland Partners Ltd

Cumberland Partners Ltd purchased a new position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 29,679 shares of the company's stock, valued at approximately $2,553,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Freedom Day Solutions LLC increased its position in Novo Nordisk A/S by 1.7% during the 4th quarter. Freedom Day Solutions LLC now owns 24,750 shares of the company's stock valued at $2,129,000 after buying an additional 420 shares in the last quarter. Private Wealth Partners LLC grew its stake in shares of Novo Nordisk A/S by 48.5% during the fourth quarter. Private Wealth Partners LLC now owns 49,300 shares of the company's stock worth $4,241,000 after acquiring an additional 16,097 shares during the last quarter. TBH Global Asset Management LLC increased its holdings in shares of Novo Nordisk A/S by 7.2% during the fourth quarter. TBH Global Asset Management LLC now owns 7,492 shares of the company's stock valued at $644,000 after acquiring an additional 500 shares in the last quarter. Bryn Mawr Capital Management LLC raised its position in shares of Novo Nordisk A/S by 358.8% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 38,898 shares of the company's stock valued at $3,346,000 after purchasing an additional 30,420 shares during the last quarter. Finally, Financial Management Network Inc. acquired a new stake in Novo Nordisk A/S in the 4th quarter worth approximately $248,000. Hedge funds and other institutional investors own 11.54% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on NVO. 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. BNP Paribas upgraded Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, December 2nd. Cantor Fitzgerald reiterated an "overweight" rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. StockNews.com downgraded Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a report on Sunday, December 29th. Finally, Morgan Stanley started coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an "equal weight" rating on the stock. Two investment 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $145.25.

Novo Nordisk A/S Stock Performance

Shares of NVO traded up $4.55 during mid-day trading on Friday, reaching $88.29. The company had a trading volume of 13,022,739 shares, compared to its average volume of 9,187,441. The stock has a 50 day moving average of $86.39 and a two-hundred day moving average of $108.48. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $396.19 billion, a P/E ratio of 26.80, a PEG ratio of 0.90 and a beta of 0.45. 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 posted its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share 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%. On average, analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be given a dividend of $0.7874 per share. The ex-dividend date of this dividend 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 (DPR) is 47.72%.

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.