Convergence Financial LLC Buys 403 Shares of Novo Nordisk A/S (NYSE:NVO)

Convergence Financial LLC raised its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 3.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 11,554 shares of the company’s stock after purchasing an additional 403 shares during the period. Convergence Financial LLC’s holdings in Novo Nordisk A/S were worth $994,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rosenberg Matthew Hamilton grew its stake in shares of Novo Nordisk A/S by 2.5% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 3,812 shares of the company’s stock valued at $454,000 after acquiring an additional 94 shares during the period. Spinnaker Trust boosted its position in shares of Novo Nordisk A/S by 1.1% in the third quarter. Spinnaker Trust now owns 9,615 shares of the company’s stock worth $1,145,000 after purchasing an additional 100 shares during the period. Marco Investment Management LLC increased its stake in shares of Novo Nordisk A/S by 1.5% in the third quarter. Marco Investment Management LLC now owns 6,702 shares of the company’s stock worth $798,000 after purchasing an additional 100 shares in the last quarter. Carr Financial Group Corp raised its position in shares of Novo Nordisk A/S by 5.1% during the 3rd quarter. Carr Financial Group Corp now owns 2,100 shares of the company’s stock valued at $250,000 after purchasing an additional 101 shares during the period. Finally, Menard Financial Group LLC lifted its stake in shares of Novo Nordisk A/S by 0.8% during the 3rd quarter. Menard Financial Group LLC now owns 12,283 shares of the company’s stock valued at $1,463,000 after buying an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Morgan Stanley began coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They set an “equal weight” rating for the company. 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. BMO Capital Markets decreased their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Finally, BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Price Performance

Shares of NVO stock opened at $89.67 on Thursday. The company’s 50-day simple moving average is $84.99 and its two-hundred day simple moving average is $107.30. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. Novo Nordisk A/S has a one year low of $77.82 and a one year high of $148.15. The company has a market capitalization of $402.41 billion, a P/E ratio of 27.26, a P/E/G ratio of 0.90 and a beta of 0.45.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data 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%. As a group, equities analysts anticipate that Novo Nordisk A/S will post 3.84 EPS 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 given a dividend of $0.7874 per share. This is an increase 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 dividend payout ratio (DPR) is 47.72%.

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.