Envestnet Asset Management Inc. Has $358.50 Million Stake in Novo Nordisk A/S (NYSE:NVO)

Envestnet Asset Management Inc. reduced its position in shares of Novo Nordisk A/S (NYSE:NVO) by 2.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,167,683 shares of the company’s stock after selling 110,977 shares during the period. Envestnet Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $358,504,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NVO. Victory Capital Management Inc. raised its position in Novo Nordisk A/S by 58.5% during the fourth quarter. Victory Capital Management Inc. now owns 62,897 shares of the company’s stock valued at $5,410,000 after buying an additional 23,223 shares during the period. Norman Fields Gottscho Capital Management LLC increased its holdings in shares of Novo Nordisk A/S by 45.3% in the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company’s stock valued at $5,482,000 after purchasing an additional 19,870 shares during the period. Bryn Mawr Capital Management LLC lifted its position in shares of Novo Nordisk A/S by 358.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 38,898 shares of the company’s stock worth $3,346,000 after purchasing an additional 30,420 shares in the last quarter. Versant Capital Management Inc acquired a new stake in shares of Novo Nordisk A/S during the fourth quarter worth approximately $86,000. Finally, Talbot Financial LLC purchased a new position in Novo Nordisk A/S during the fourth quarter valued at approximately $4,066,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on NVO. BMO Capital Markets cut their target price on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 21st. Finally, Kepler Capital Markets upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO opened at $62.58 on Friday. The business’s 50-day simple moving average is $80.85 and its 200-day simple moving average is $96.50. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. Novo Nordisk A/S has a 52 week low of $62.37 and a 52 week high of $148.15. The firm has a market cap of $280.84 billion, a price-to-earnings ratio of 19.02, a P/E/G ratio of 0.90 and a beta of 0.61.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, beating 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%. As a group, equities research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be given a dividend of $0.7874 per share. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date is Monday, March 31st. This represents a yield of 1.2%. Novo Nordisk A/S’s payout ratio is currently 47.72%.

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.