Covington Capital Management grew its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 2.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 87,655 shares of the company’s stock after purchasing an additional 2,352 shares during the period. Covington Capital Management’s holdings in Novo Nordisk A/S were worth $4,704,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the business. Parsec Financial Management Inc. grew its position in shares of Novo Nordisk A/S by 0.3% during the 4th quarter. Parsec Financial Management Inc. now owns 366,541 shares of the company’s stock worth $19,672,000 after purchasing an additional 996 shares in the last quarter. Legacy Capital Partners Inc. lifted its holdings in shares of Novo Nordisk A/S by 20.3% during the 3rd quarter. Legacy Capital Partners Inc. now owns 5,925 shares of the company’s stock worth $285,000 after acquiring an additional 1,000 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Novo Nordisk A/S by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 27,685 shares of the company’s stock worth $1,485,000 after acquiring an additional 1,070 shares during the period. Columbia Partners L L C Investment Management lifted its holdings in shares of Novo Nordisk A/S by 16.2% during the 3rd quarter. Columbia Partners L L C Investment Management now owns 7,892 shares of the company’s stock worth $379,000 after acquiring an additional 1,101 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in shares of Novo Nordisk A/S by 26.8% during the 3rd quarter. Parallel Advisors LLC now owns 5,210 shares of the company’s stock worth $259,000 after acquiring an additional 1,102 shares during the period. Hedge funds and other institutional investors own 6.71% of the company’s stock.
NVO has been the subject of a number of recent analyst reports. Morgan Stanley raised shares of Novo Nordisk A/S from an “equal weight” rating to an “overweight” rating in a report on Friday, December 1st. Bank of America raised shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Wednesday, December 6th. JPMorgan Chase & Co. raised shares of Novo Nordisk A/S from an “underweight” rating to a “neutral” rating in a report on Friday, December 29th. Zacks Investment Research raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Tuesday, January 2nd. Finally, Deutsche Bank reaffirmed a “buy” rating on shares of Novo Nordisk A/S in a report on Monday, January 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Novo Nordisk A/S has a consensus rating of “Hold” and an average price target of $64.00.
Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Thursday, February 1st. The company reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.04). The company had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.27 billion. Novo Nordisk A/S had a net margin of 34.09% and a return on equity of 82.72%. equities research analysts forecast that Novo Nordisk A/S will post 2.63 EPS for the current year.
The business also recently disclosed a special dividend, which will be paid on Tuesday, April 3rd. Investors of record on Monday, March 26th will be paid a $0.8117 dividend. This represents a yield of 0.96%. The ex-dividend date is Friday, March 23rd. Novo Nordisk A/S’s payout ratio is 35.34%.
Novo Nordisk A/S declared that its Board of Directors has approved a stock buyback plan on Thursday, February 1st that authorizes the company to repurchase shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
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Novo Nordisk A/S Company Profile
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company’s diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.
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