Lakeside Advisors INC. Sells 600 Shares of Novo Nordisk A/S (NYSE:NVO)

Lakeside Advisors INC. lowered its position in Novo Nordisk A/S (NYSE:NVO) by 2.9% in the 4th quarter, Holdings Channel reports. The fund owned 20,250 shares of the company’s stock after selling 600 shares during the quarter. Novo Nordisk A/S accounts for 1.5% of Lakeside Advisors INC.’s holdings, making the stock its 16th biggest holding. Lakeside Advisors INC.’s holdings in Novo Nordisk A/S were worth $2,095,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Westside Investment Management Inc. grew its stake in shares of Novo Nordisk A/S by 83.3% in the 3rd quarter. Westside Investment Management Inc. now owns 1,428 shares of the company’s stock worth $130,000 after buying an additional 649 shares during the last quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD purchased a new stake in shares of Novo Nordisk A/S in the 3rd quarter worth approximately $2,408,000. Lazard Asset Management LLC grew its stake in shares of Novo Nordisk A/S by 182.2% in the 3rd quarter. Lazard Asset Management LLC now owns 1,494,214 shares of the company’s stock worth $135,883,000 after buying an additional 964,640 shares during the last quarter. Benedict Financial Advisors Inc. grew its stake in shares of Novo Nordisk A/S by 94.0% in the 3rd quarter. Benedict Financial Advisors Inc. now owns 44,292 shares of the company’s stock worth $4,028,000 after buying an additional 21,457 shares during the last quarter. Finally, CENTRAL TRUST Co grew its stake in shares of Novo Nordisk A/S by 111.6% in the 3rd quarter. CENTRAL TRUST Co now owns 6,004 shares of the company’s stock worth $546,000 after buying an additional 3,166 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock traded down $0.45 during trading on Wednesday, reaching $123.45. The company had a trading volume of 3,044,113 shares, compared to its average volume of 3,581,832. Novo Nordisk A/S has a 52 week low of $75.56 and a 52 week high of $138.28. The firm’s 50-day simple moving average is $126.16 and its 200 day simple moving average is $110.32. The firm has a market capitalization of $553.99 billion, a price-to-earnings ratio of 45.72, a price-to-earnings-growth ratio of 2.06 and a beta of 0.41. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.19.

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

Novo Nordisk A/S Increases Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 25th were issued a dividend of $0.664 per share. The ex-dividend date of this dividend was Friday, March 22nd. This is a boost from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. This represents a yield of 0.9%. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 48.89%.

Analyst Ratings Changes

Several analysts have commented on the company. BMO Capital Markets assumed coverage on Novo Nordisk A/S in a research note on Friday, April 12th. They set an “outperform” rating and a $163.00 target price on the stock. UBS Group assumed coverage on Novo Nordisk A/S in a research note on Tuesday, January 16th. They set a “neutral” rating on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, April 1st. Finally, Morgan Stanley assumed coverage on Novo Nordisk A/S in a research note on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 target price on the stock. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.60.

About Novo Nordisk A/S

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.