Meridian Investment Counsel Inc. Purchases 22,314 Shares of Novo Nordisk A/S (NYSE:NVO)

Meridian Investment Counsel Inc. boosted its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 95.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,697 shares of the company's stock after purchasing an additional 22,314 shares during the period. Novo Nordisk A/S comprises 1.2% of Meridian Investment Counsel Inc.'s holdings, making the stock its 21st largest position. Meridian Investment Counsel Inc.'s holdings in Novo Nordisk A/S were worth $3,931,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Center for Financial Planning Inc. grew its position in Novo Nordisk A/S by 72.4% in 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 in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Novo Nordisk A/S during the 3rd quarter worth about $28,000. Albion Financial Group UT boosted its stake in shares of Novo Nordisk A/S by 121.4% during the 4th quarter. Albion Financial Group UT now owns 507 shares of the company's stock worth $44,000 after buying an additional 278 shares during the last quarter. Sound Income Strategies LLC grew its holdings in shares of Novo Nordisk A/S by 82.1% in the 4th quarter. Sound Income Strategies LLC now owns 539 shares of the company's stock valued at $46,000 after acquiring an additional 243 shares in the last quarter. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at about $46,000. Institutional investors and hedge funds own 11.54% of the company's stock.

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Novo Nordisk A/S Trading Down 0.9 %

Shares of Novo Nordisk A/S stock traded down $0.63 on Thursday, hitting $67.61. The stock had a trading volume of 5,168,938 shares, compared to its average volume of 8,325,689. The stock has a 50 day moving average of $81.64 and a 200 day moving average of $97.47. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. Novo Nordisk A/S has a twelve month low of $66.88 and a twelve month high of $148.15. The firm has a market capitalization of $303.40 billion, a P/E ratio of 20.55, a PEG ratio of 0.90 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. Sell-side analysts expect that Novo Nordisk A/S will post 3.84 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. Investors of record on Monday, March 31st will be given a dividend of $0.7874 per share. This represents a dividend yield of 1.2%. The ex-dividend date is Monday, March 31st. This is an increase from Novo Nordisk A/S's previous semi-annual dividend of $0.51. Novo Nordisk A/S's payout ratio is presently 47.72%.

Wall Street Analysts Forecast Growth

NVO has been the subject of several analyst reports. Kepler Capital Markets raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. BMO Capital Markets lowered their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an "outperform" rating on the stock in a research note on Monday, December 23rd. Stifel Nicolaus cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. UBS Group upgraded Novo Nordisk A/S from a "sell" rating to a "buy" rating in a research note on Wednesday, January 8th. Finally, Sanford C. Bernstein upgraded Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $145.25.

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.