Cinctive Capital Management LP Makes New $574,000 Investment in Novo Nordisk A/S (NYSE:NVO)

Cinctive Capital Management LP bought a new position in Novo Nordisk A/S (NYSE:NVO - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,678 shares of the company's stock, valued at approximately $574,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NVO. Huntington National Bank increased its position in shares of Novo Nordisk A/S by 15.5% in the fourth quarter. Huntington National Bank now owns 21,027 shares of the company's stock worth $1,809,000 after acquiring an additional 2,818 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Novo Nordisk A/S by 25.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 100,108 shares of the company's stock valued at $8,611,000 after buying an additional 20,448 shares in the last quarter. Potomac Fund Management Inc. ADV purchased a new position in shares of Novo Nordisk A/S during the fourth quarter valued at $1,235,000. Trexquant Investment LP raised its position in Novo Nordisk A/S by 36.6% during the fourth quarter. Trexquant Investment LP now owns 232,246 shares of the company's stock valued at $19,978,000 after buying an additional 62,267 shares during the period. Finally, May Hill Capital LLC purchased a new stake in Novo Nordisk A/S in the 4th quarter worth about $419,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Trading Down 6.7 %

NVO traded down $4.52 during trading on Friday, reaching $62.58. 10,847,371 shares of the company's stock were exchanged, compared to its average volume of 5,641,496. 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 fifty-two week low of $60.61 and a fifty-two week high of $148.15. The company's fifty day moving average price is $80.85 and its 200-day moving average price is $96.75. The firm has a market capitalization of $280.84 billion, a PE ratio of 19.02, a P/E/G ratio of 0.90 and a beta of 0.61.

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Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share 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 analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be paid a $0.7874 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a yield of 1.2%. This is a positive change from Novo Nordisk A/S's previous semi-annual dividend of $0.51. Novo Nordisk A/S's dividend payout ratio is 47.72%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an "equal weight" rating for the company. Kepler Capital Markets raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Stifel Nicolaus lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Sanford C. Bernstein upgraded Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a report on Monday, January 6th. Finally, UBS Group raised shares of Novo Nordisk A/S from a "sell" rating to a "buy" rating in a research report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $145.25.

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.