Sit Investment Associates Inc. Boosts Stake in Novo Nordisk A/S (NYSE:NVO)

Sit Investment Associates Inc. boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 9.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,655 shares of the company's stock after buying an additional 6,547 shares during the period. Sit Investment Associates Inc.'s holdings in Novo Nordisk A/S were worth $5,184,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. BIP Wealth LLC lifted its holdings in Novo Nordisk A/S by 3.9% during the fourth quarter. BIP Wealth LLC now owns 3,642 shares of the company's stock worth $313,000 after buying an additional 138 shares during the period. Xponance Inc. lifted its holdings in Novo Nordisk A/S by 5.0% during the first quarter. Xponance Inc. now owns 3,314 shares of the company's stock worth $230,000 after buying an additional 158 shares during the period. Foster Dykema Cabot & Partners LLC lifted its holdings in Novo Nordisk A/S by 3.8% during the first quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company's stock worth $319,000 after buying an additional 166 shares during the period. 180 Wealth Advisors LLC lifted its holdings in Novo Nordisk A/S by 3.6% during the first quarter. 180 Wealth Advisors LLC now owns 5,014 shares of the company's stock worth $348,000 after buying an additional 173 shares during the period. Finally, LRI Investments LLC lifted its holdings in Novo Nordisk A/S by 1.4% during the fourth quarter. LRI Investments LLC now owns 13,060 shares of the company's stock worth $1,123,000 after buying an additional 176 shares during the period. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Price Performance

NYSE NVO opened at $50.92 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The stock's fifty day moving average price is $65.40 and its 200 day moving average price is $70.66. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $139.74. The company has a market cap of $227.35 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 1.75 and a beta of 0.63.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. The firm had revenue of $11.69 billion for the quarter, compared to the consensus estimate of $77.51 billion. As a group, equities research analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be given a $0.4119 dividend. This represents a dividend yield of 240.0%. The ex-dividend date of this dividend is Monday, August 18th. Novo Nordisk A/S's dividend payout ratio is presently 45.05%.

Analysts Set New Price Targets

NVO has been the subject of a number of analyst reports. BNP Paribas Exane upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 target price for the company in a report on Wednesday. BNP Paribas raised Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research report on Wednesday. Barclays reaffirmed an "equal weight" rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. UBS Group downgraded Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 5th. Finally, Guggenheim downgraded Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $83.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.