Cinctive Capital Management LP Takes $574,000 Position in Novo Nordisk A/S (NYSE:NVO)

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

Several other large investors have also recently added to or reduced their stakes in NVO. Charles Schwab Investment Management Inc. boosted its holdings in shares of Novo Nordisk A/S by 16.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 204,583 shares of the company's stock valued at $24,360,000 after acquiring an additional 28,988 shares in the last quarter. Benjamin Edwards Inc. raised its position in Novo Nordisk A/S by 643.8% in the third quarter. Benjamin Edwards Inc. now owns 25,697 shares of the company's stock worth $3,060,000 after acquiring an additional 22,242 shares in the last quarter. Hilltop Holdings Inc. lifted its holdings in Novo Nordisk A/S by 103.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 7,978 shares of the company's stock valued at $950,000 after acquiring an additional 4,054 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Novo Nordisk A/S by 1.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 33,027 shares of the company's stock valued at $3,933,000 after purchasing an additional 477 shares in the last quarter. Finally, IHT Wealth Management LLC raised its holdings in shares of Novo Nordisk A/S by 39.9% in the 3rd quarter. IHT Wealth Management LLC now owns 11,311 shares of the company's stock worth $1,343,000 after purchasing an additional 3,228 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They set an "equal weight" rating for the company. UBS Group raised Novo Nordisk A/S from a "sell" rating to a "buy" rating in a research note on Wednesday, January 8th. BMO Capital Markets decreased their price target on 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. 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, Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Novo Nordisk A/S currently has an average rating of "Moderate Buy" and a consensus target price of $145.25.

Novo Nordisk A/S Stock Up 0.9 %

NYSE NVO traded up $0.56 on Monday, reaching $63.11. The stock had a trading volume of 8,274,115 shares, compared to its average volume of 5,655,326. Novo Nordisk A/S has a 1 year low of $60.05 and a 1 year high of $148.15. The business has a 50 day moving average price of $80.85 and a 200 day moving average price of $96.25. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $283.21 billion, a price-to-earnings ratio of 19.15, a P/E/G ratio of 0.90 and a beta of 0.61.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued 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 net margin of 34.81% and a return on equity of 84.68%. On average, analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business 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. The ex-dividend date is Monday, March 31st. This represents a yield of 1.2%. This is a boost from Novo Nordisk A/S's previous semi-annual dividend of $0.51. Novo Nordisk A/S's dividend payout ratio is presently 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.