Parkside Financial Bank & Trust Grows Position in Novo Nordisk A/S (NYSE:NVO)

Parkside Financial Bank & Trust increased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 28.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,941 shares of the company’s stock after buying an additional 435 shares during the period. Parkside Financial Bank & Trust’s holdings in Novo Nordisk A/S were worth $201,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Jennison Associates LLC increased its stake in Novo Nordisk A/S by 100.3% in the third quarter. Jennison Associates LLC now owns 23,419,405 shares of the company’s stock valued at $2,129,761,000 after purchasing an additional 11,727,507 shares during the last quarter. Polen Capital Management LLC purchased a new position in Novo Nordisk A/S in the third quarter valued at approximately $718,995,000. FMR LLC increased its stake in Novo Nordisk A/S by 122.7% in the third quarter. FMR LLC now owns 12,077,501 shares of the company’s stock valued at $1,098,328,000 after purchasing an additional 6,654,614 shares during the last quarter. Morgan Stanley increased its stake in Novo Nordisk A/S by 96.5% in the third quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock valued at $838,021,000 after purchasing an additional 4,526,199 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its holdings in shares of Novo Nordisk A/S by 91.7% in the third quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock valued at $827,354,000 after acquiring an additional 4,350,862 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on NVO. Morgan Stanley began coverage on Novo Nordisk A/S in a report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price objective for the company. UBS Group started coverage on Novo Nordisk A/S in a report on Tuesday, January 16th. They issued a “neutral” rating for the company. BMO Capital Markets started coverage on Novo Nordisk A/S in a report on Friday, April 12th. They set an “outperform” rating and a $163.00 price target for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Thursday, April 18th. Two 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $133.60.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock traded down $3.04 during midday trading on Wednesday, reaching $125.60. The company’s stock had a trading volume of 1,739,540 shares, compared to its average volume of 4,814,228. Novo Nordisk A/S has a fifty-two week low of $75.56 and a fifty-two week high of $138.28. 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 stock’s 50 day simple moving average is $126.66 and its 200 day simple moving average is $111.54. The firm has a market capitalization of $563.63 billion, a PE ratio of 46.42, a P/E/G ratio of 2.09 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last released its 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. 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 during the quarter, compared to the consensus estimate of $9.14 billion. On average, equities research analysts forecast that Novo Nordisk A/S will post 3.32 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

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

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.