Sierra Ocean LLC Invests $405,000 in Novo Nordisk A/S (NYSE:NVO)

Sierra Ocean LLC bought a new position in Novo Nordisk A/S (NYSE:NVO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,707 shares of the company’s stock, valued at approximately $405,000.

Other hedge funds have also modified their holdings of the company. Daiwa Securities Group Inc. acquired a new position in shares of Novo Nordisk A/S in the 3rd quarter worth approximately $28,000. Center for Financial Planning Inc. increased its holdings in Novo Nordisk A/S by 72.4% during the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after purchasing an additional 123 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Novo Nordisk A/S during the 3rd quarter valued at $42,000. Carolina Wealth Advisors LLC acquired a new stake in Novo Nordisk A/S during the 3rd quarter valued at $48,000. Finally, Dunhill Financial LLC increased its holdings in Novo Nordisk A/S by 196.8% during the 3rd quarter. Dunhill Financial LLC now owns 469 shares of the company’s stock valued at $56,000 after purchasing an additional 311 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Down 1.1 %

NYSE:NVO opened at $77.94 on Monday. Novo Nordisk A/S has a 12-month low of $77.82 and a 12-month high of $148.15. The company has a quick ratio of 0.75, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $349.75 billion, a P/E ratio of 23.69, a P/E/G ratio of 0.96 and a beta of 0.45. The stock’s fifty day simple moving average is $88.65 and its 200-day simple moving average is $109.70.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. Equities research analysts expect that Novo Nordisk A/S will post 3.86 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.7874 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a yield of 1.2%. Novo Nordisk A/S’s payout ratio is currently 21.88%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. BMO Capital Markets dropped their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, Morgan Stanley began coverage on Novo Nordisk A/S in a research note on Wednesday, February 12th. They issued an “equal weight” rating for the company. Two equities 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.25.

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.