Signet Financial Management LLC Sells 294 Shares of Novo Nordisk A/S (NYSE:NVO)

Signet Financial Management LLC lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 6.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,550 shares of the company’s stock after selling 294 shares during the quarter. Signet Financial Management LLC’s holdings in Novo Nordisk A/S were worth $471,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVO. Pacific Center for Financial Services raised its holdings in shares of Novo Nordisk A/S by 100.0% during the third quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares in the last quarter. Copeland Capital Management LLC raised its holdings in shares of Novo Nordisk A/S by 100.0% during the third quarter. Copeland Capital Management LLC now owns 282 shares of the company’s stock valued at $26,000 after acquiring an additional 141 shares in the last quarter. Bell Investment Advisors Inc raised its holdings in shares of Novo Nordisk A/S by 79.9% during the third quarter. Bell Investment Advisors Inc now owns 286 shares of the company’s stock valued at $26,000 after acquiring an additional 127 shares in the last quarter. Citizens National Bank Trust Department raised its holdings in shares of Novo Nordisk A/S by 100.0% during the third quarter. Citizens National Bank Trust Department now owns 300 shares of the company’s stock valued at $27,000 after acquiring an additional 150 shares in the last quarter. Finally, Tyler Stone Wealth Management raised its holdings in shares of Novo Nordisk A/S by 100.0% during the third quarter. Tyler Stone Wealth Management now owns 292 shares of the company’s stock valued at $27,000 after acquiring an additional 146 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 0.4 %

NYSE NVO opened at $123.45 on Wednesday. Novo Nordisk A/S has a 12 month low of $75.56 and a 12 month high of $138.28. The stock’s fifty day moving average price is $126.16 and its 200-day moving average price is $110.32. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.19. The stock has a market cap of $553.99 billion, a P/E ratio of 45.64, a P/E/G ratio of 2.06 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $9.51 billion for the quarter, compared to the consensus estimate of $9.14 billion. As a group, equities analysts forecast that Novo Nordisk A/S will post 3.33 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 25th were issued a $0.664 dividend. This is an increase from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. The ex-dividend date of this dividend was Friday, March 22nd. This represents a yield of 0.9%. Novo Nordisk A/S’s dividend payout ratio is currently 49.17%.

Analysts Set New Price Targets

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

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.