Euro Pacific Asset Management LLC Has $12.91 Million Position in Novo Nordisk A/S (NYSE:NVO)

Euro Pacific Asset Management LLC reduced its holdings in Novo Nordisk A/S (NYSE:NVO) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 125,371 shares of the company’s stock after selling 2,099 shares during the quarter. Novo Nordisk A/S comprises 2.7% of Euro Pacific Asset Management LLC’s portfolio, making the stock its 15th biggest holding. Euro Pacific Asset Management LLC’s holdings in Novo Nordisk A/S were worth $12,909,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Jennison Associates LLC grew its position in Novo Nordisk A/S by 100.3% during the third quarter. Jennison Associates LLC now owns 23,419,405 shares of the company’s stock worth $2,129,761,000 after buying an additional 11,727,507 shares in the last quarter. FMR LLC grew its position in Novo Nordisk A/S by 122.7% during the third quarter. FMR LLC now owns 12,077,501 shares of the company’s stock worth $1,098,328,000 after buying an additional 6,654,614 shares in the last quarter. Morgan Stanley grew its position in Novo Nordisk A/S by 96.5% during the third quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock worth $838,021,000 after buying an additional 4,526,199 shares in the last quarter. Loomis Sayles & Co. L P grew its position in Novo Nordisk A/S by 91.7% during the third quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock worth $827,354,000 after buying an additional 4,350,862 shares in the last quarter. Finally, Polen Capital Management LLC acquired a new stake in Novo Nordisk A/S during the third quarter worth about $718,995,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Price Performance

NVO traded down $1.74 during midday trading on Thursday, reaching $122.79. 1,884,264 shares of the company’s stock were exchanged, compared to its average volume of 4,867,995. The firm has a market capitalization of $551.02 billion, a price-to-earnings ratio of 45.51, a price-to-earnings-growth ratio of 2.06 and a beta of 0.41. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.19. Novo Nordisk A/S has a one year low of $75.56 and a one year high of $138.28. The business has a 50-day simple moving average of $126.28 and a two-hundred day simple moving average of $110.42.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. The company had revenue of $9.51 billion during the quarter, compared to analysts’ expectations of $9.14 billion. As a group, research analysts predict that Novo Nordisk A/S will post 3.33 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 25th were paid a $0.664 dividend. The ex-dividend date of this dividend was Friday, March 22nd. This represents a dividend yield of 0.9%. This is a boost from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. Novo Nordisk A/S’s payout ratio is 49.17%.

Analysts Set New Price Targets

A number of research firms recently weighed in on NVO. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday. Morgan Stanley initiated coverage on Novo Nordisk A/S in a research report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 target price on the stock. BMO Capital Markets initiated coverage on shares of Novo Nordisk A/S in a research note on Friday, April 12th. They set an “outperform” rating and a $163.00 price target for the company. Finally, UBS Group initiated coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 16th. They set a “neutral” rating for the company. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and a consensus price target of $133.60.

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.