Cardinal Capital Management Raises Stake in Novo Nordisk A/S (NYSE:NVO)

Cardinal Capital Management increased its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,401 shares of the company’s stock after purchasing an additional 143 shares during the quarter. Cardinal Capital Management’s holdings in Novo Nordisk A/S were worth $4,163,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Daiwa Securities Group Inc. purchased a new position in Novo Nordisk A/S in the third quarter worth about $28,000. Center for Financial Planning Inc. lifted its holdings in shares of Novo Nordisk A/S by 72.4% in the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after buying an additional 123 shares during the period. Capital Performance Advisors LLP bought a new position in Novo Nordisk A/S during the 3rd quarter worth about $42,000. Carolina Wealth Advisors LLC purchased a new stake in Novo Nordisk A/S during the third quarter worth $48,000. Finally, Dunhill Financial LLC boosted its position in Novo Nordisk A/S by 196.8% during the third quarter. Dunhill Financial LLC now owns 469 shares of the company’s stock valued at $56,000 after purchasing an additional 311 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Finally, BMO Capital Markets reduced their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Stock Down 1.1 %

Shares of Novo Nordisk A/S stock opened at $77.94 on Tuesday. Novo Nordisk A/S has a 52-week low of $77.82 and a 52-week high of $148.15. The company has a 50 day moving average of $88.65 and a 200 day moving average of $109.54. The company has a market capitalization of $349.75 billion, a P/E ratio of 23.69, a P/E/G ratio of 0.96 and a beta of 0.45. The company has a quick ratio of 0.75, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. As a group, research analysts forecast that Novo Nordisk A/S will post 3.86 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.7874 per share. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio is 21.88%.

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.