Summit Global Investments Sells 26,771 Shares of Novo Nordisk A/S (NYSE:NVO)

Summit Global Investments reduced its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 73.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,513 shares of the company's stock after selling 26,771 shares during the quarter. Summit Global Investments' holdings in Novo Nordisk A/S were worth $818,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of NVO. Massachusetts Financial Services Co. MA lifted its stake in shares of Novo Nordisk A/S by 2.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 79,660 shares of the company's stock worth $9,485,000 after purchasing an additional 2,166 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Novo Nordisk A/S by 16.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 204,583 shares of the company's stock valued at $24,360,000 after purchasing an additional 28,988 shares during the last quarter. Eagle Asset Management Inc. grew its stake in shares of Novo Nordisk A/S by 10.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 17,893 shares of the company's stock valued at $2,131,000 after buying an additional 1,680 shares during the period. Nwam LLC acquired a new stake in shares of Novo Nordisk A/S during the 3rd quarter worth $330,000. Finally, Nicolet Advisory Services LLC raised its holdings in Novo Nordisk A/S by 10.7% in the third quarter. Nicolet Advisory Services LLC now owns 3,351 shares of the company's stock valued at $386,000 after buying an additional 323 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

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Novo Nordisk A/S Stock Performance

NYSE:NVO traded down $1.55 during midday trading on Thursday, reaching $70.18. The stock had a trading volume of 7,960,944 shares, compared to its average volume of 5,475,698. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The firm's fifty day simple moving average is $82.78 and its 200-day simple moving average is $99.75. The stock has a market capitalization of $314.93 billion, a P/E ratio of 21.33, a PEG ratio of 0.90 and a beta of 0.42. Novo Nordisk A/S has a 1-year low of $69.78 and a 1-year high of $148.15.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate 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%. On average, equities research analysts forecast that Novo Nordisk A/S will post 3.84 EPS 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. Stockholders of record on Monday, March 31st will be issued a $0.7874 dividend. 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. This represents a dividend yield of 1.2%. Novo Nordisk A/S's payout ratio is 47.72%.

Wall Street Analyst Weigh In

NVO has been the topic of a number of recent research reports. BMO Capital Markets reduced their price objective on 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. StockNews.com lowered shares of Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a research note on Friday, March 21st. UBS Group upgraded 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. Finally, Stifel Nicolaus lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus 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.