Harbour Trust & Investment Management Co Takes $6.11 Million Position in Novo Nordisk A/S (NYSE:NVO)

Harbour Trust & Investment Management Co acquired a new position in Novo Nordisk A/S (NYSE:NVO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 59,011 shares of the company's stock, valued at approximately $6,105,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Jennison Associates LLC lifted its holdings 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 during the period. Polen Capital Management LLC purchased a new stake in Novo Nordisk A/S during the third quarter worth $718,995,000. FMR LLC lifted its holdings 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 during the period. Morgan Stanley lifted its holdings 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 during the period. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of Novo Nordisk A/S by 91.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company's stock valued at $827,354,000 after purchasing an additional 4,350,862 shares during the last quarter. Institutional investors own 11.54% of the company's stock.

Analyst Ratings Changes

NVO has been the subject of several analyst reports. UBS Group initiated coverage on Novo Nordisk A/S in a report on Tuesday, January 16th. They set a "neutral" rating for the company. Morgan Stanley initiated coverage on Novo Nordisk A/S in a report on Tuesday, January 23rd. They set an "overweight" rating and a $120.00 price objective for the company. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Monday, April 1st. Two investment 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. According to data from MarketBeat, Novo Nordisk A/S has an average rating of "Moderate Buy" and an average target price of $126.25.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO traded down $2.62 during mid-day trading on Tuesday, hitting $124.84. The stock had a trading volume of 3,214,471 shares, compared to its average volume of 5,079,667. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.64 and a current ratio of 0.82. The company has a 50 day moving average of $125.32 and a two-hundred day moving average of $109.16. Novo Nordisk A/S has a twelve month low of $75.56 and a twelve month high of $138.28. The firm has a market cap of $560.22 billion, a PE ratio of 46.15, a PEG ratio of 2.10 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. The firm had revenue of $9.51 billion for the quarter, compared to the consensus estimate of $9.14 billion. Research analysts predict that Novo Nordisk A/S will post 3.32 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 25th were given a dividend of $0.664 per share. This is an increase from Novo Nordisk A/S's previous Semi-Annual dividend of $0.22. This represents a yield of 0.9%. The ex-dividend date was Friday, March 22nd. Novo Nordisk A/S's dividend payout ratio (DPR) is currently 49.17%.

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.