Arcadia Investment Management Corp MI Increases Stock Position in Novo Nordisk A/S (NYSE:NVO)

Arcadia Investment Management Corp MI increased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 29.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,354 shares of the company’s stock after buying an additional 1,000 shares during the period. Arcadia Investment Management Corp MI’s holdings in Novo Nordisk A/S were worth $375,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in NVO. Center for Financial Planning Inc. boosted its holdings in Novo Nordisk A/S by 72.4% during the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after buying an additional 123 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in Novo Nordisk A/S during the third quarter worth $28,000. Capital Performance Advisors LLP purchased a new stake in Novo Nordisk A/S during the third quarter worth $42,000. Albion Financial Group UT boosted its holdings in Novo Nordisk A/S by 121.4% during the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock worth $44,000 after buying an additional 278 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in Novo Nordisk A/S by 82.1% during the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock worth $46,000 after buying an additional 243 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NVO has been the topic of a number of recent analyst reports. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a research report on Wednesday, February 12th. They set an “equal weight” rating for the company. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Finally, Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $145.25.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $83.79 on Friday. The firm has a 50-day simple moving average of $86.39 and a 200-day simple moving average of $108.48. The stock has a market capitalization of $376.02 billion, a price-to-earnings ratio of 25.47, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. Novo Nordisk A/S has a 52 week low of $77.82 and a 52 week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. On average, equities analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

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

Novo Nordisk A/S 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.