Magellan Asset Management Ltd Has $241.96 Million Stock Position in Novo Nordisk A/S (NYSE:NVO)

Magellan Asset Management Ltd increased its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 16.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,812,781 shares of the company's stock after acquiring an additional 400,953 shares during the quarter. Novo Nordisk A/S comprises approximately 2.7% of Magellan Asset Management Ltd's holdings, making the stock its 17th biggest position. Magellan Asset Management Ltd owned about 0.06% of Novo Nordisk A/S worth $241,955,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Pitcairn Co. lifted its stake in shares of Novo Nordisk A/S by 3.7% during the 4th quarter. Pitcairn Co. now owns 14,910 shares of the company's stock worth $1,283,000 after acquiring an additional 527 shares during the last quarter. Allen Wealth Management LLC boosted its stake in Novo Nordisk A/S by 15.7% in the 4th quarter. Allen Wealth Management LLC now owns 3,227 shares of the company's stock worth $278,000 after purchasing an additional 437 shares in the last quarter. World Investment Advisors raised its stake in Novo Nordisk A/S by 55.9% in the 4th quarter. World Investment Advisors now owns 21,706 shares of the company's stock worth $1,867,000 after acquiring an additional 7,781 shares during the last quarter. Westpac Banking Corp raised its position in Novo Nordisk A/S by 19.0% during the 4th quarter. Westpac Banking Corp now owns 75,746 shares of the company's stock worth $6,516,000 after buying an additional 12,068 shares during the last quarter. Finally, Nicolet Advisory Services LLC boosted its stake in shares of Novo Nordisk A/S by 7.6% in the fourth quarter. Nicolet Advisory Services LLC now owns 3,605 shares of the company's stock worth $311,000 after buying an additional 254 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company's stock.

Remove Ads

Novo Nordisk A/S Stock Performance

NYSE NVO traded down $4.52 during trading hours on Friday, reaching $62.58. The company's stock had a trading volume of 10,847,371 shares, compared to its average volume of 5,643,894. Novo Nordisk A/S has a 52 week low of $62.37 and a 52 week high of $148.15. The stock has a market cap of $280.84 billion, a PE ratio of 19.02, a PEG ratio of 0.90 and a beta of 0.61. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The business has a 50-day simple moving average of $80.85 and a 200 day simple moving average of $96.50.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 EPS 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%. Equities research 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 company also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be paid a $0.7874 dividend. This is a boost from Novo Nordisk A/S's previous semi-annual dividend of $0.51. The ex-dividend date of this dividend is Monday, March 31st. This represents a dividend yield of 1.2%. Novo Nordisk A/S's payout ratio is presently 47.72%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NVO shares. Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. StockNews.com lowered Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a research report on Friday, March 21st. Morgan Stanley started coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They set an "equal weight" rating on the stock. BMO Capital Markets dropped their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an "outperform" rating on the stock in a report on Monday, December 23rd. Finally, Sanford C. Bernstein raised shares of Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate 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.