Carnegie Capital Asset Management LLC trimmed its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,562 shares of the company’s stock after selling 3,198 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Novo Nordisk A/S were worth $5,675,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Fox Run Management L.L.C. acquired a new position in shares of Novo Nordisk A/S in the third quarter valued at approximately $400,000. Crossmark Global Holdings Inc. acquired a new stake in Novo Nordisk A/S in the third quarter valued at $4,178,000. Canada Pension Plan Investment Board lifted its stake in Novo Nordisk A/S by 16.3% in the third quarter. Canada Pension Plan Investment Board now owns 978,800 shares of the company’s stock valued at $47,129,000 after acquiring an additional 137,300 shares during the last quarter. Hutchinson Capital Management CA raised its position in shares of Novo Nordisk A/S by 0.5% in the third quarter. Hutchinson Capital Management CA now owns 509,306 shares of the company’s stock valued at $24,523,000 after purchasing an additional 2,408 shares during the period. Finally, Bbva Compass Bancshares Inc. raised its position in shares of Novo Nordisk A/S by 4.8% in the third quarter. Bbva Compass Bancshares Inc. now owns 135,387 shares of the company’s stock valued at $6,519,000 after purchasing an additional 6,207 shares during the period. 6.71% of the stock is owned by institutional investors and hedge funds.
NVO has been the topic of a number of recent research reports. Morgan Stanley raised shares of Novo Nordisk A/S from an “equal weight” rating to an “overweight” rating in a research report on Friday, December 1st. Deutsche Bank reiterated a “buy” rating on shares of Novo Nordisk A/S in a research note on Monday, January 8th. Zacks Investment Research upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Friday, January 26th. JPMorgan Chase & Co. upgraded shares of Novo Nordisk A/S from an “underweight” rating to a “neutral” rating in a research report on Friday, December 29th. Finally, Bank of America upgraded shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $64.00.
Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Thursday, February 1st. The company reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.04). Novo Nordisk A/S had a net margin of 34.09% and a return on equity of 82.72%. The firm had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.27 billion. analysts anticipate that Novo Nordisk A/S will post 2.63 EPS for the current year.
The business also recently disclosed a special dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Monday, March 26th will be paid a dividend of $0.8117 per share. This represents a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, March 23rd. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 35.34%.
Novo Nordisk A/S announced that its board has authorized a share repurchase plan on Thursday, February 1st that authorizes the company to buyback shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
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Novo Nordisk A/S Company Profile
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company’s diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.
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