Clearbridge Investments LLC Purchases 1,602,549 Shares of Novo Nordisk A/S (NYSE:NVO)

Clearbridge Investments LLC increased its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 59.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,283,317 shares of the company's stock after purchasing an additional 1,602,549 shares during the quarter. Clearbridge Investments LLC owned 0.10% of Novo Nordisk A/S worth $368,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. GQG Partners LLC raised its holdings in shares of Novo Nordisk A/S by 74.7% during the fourth quarter. GQG Partners LLC now owns 12,994,533 shares of the company's stock valued at $1,117,790,000 after purchasing an additional 5,556,460 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Novo Nordisk A/S in the 4th quarter worth approximately $404,910,000. Loomis Sayles & Co. L P raised its stake in Novo Nordisk A/S by 34.2% during the 4th quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company's stock valued at $995,397,000 after buying an additional 2,947,771 shares during the last quarter. Sustainable Growth Advisers LP lifted its holdings in shares of Novo Nordisk A/S by 23.6% during the 4th quarter. Sustainable Growth Advisers LP now owns 5,340,803 shares of the company's stock valued at $459,416,000 after buying an additional 1,021,498 shares during the period. Finally, Amundi boosted its stake in shares of Novo Nordisk A/S by 26.4% in the 4th quarter. Amundi now owns 3,311,456 shares of the company's stock worth $283,615,000 after buying an additional 692,567 shares during the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of research analysts have weighed in on NVO shares. StockNews.com downgraded Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a report on Friday, March 21st. Kepler Capital Markets raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They set an "equal weight" rating for the company. Stifel Nicolaus cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, BMO Capital Markets cut their price objective on shares of 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. Three investment 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 company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $145.25.

Novo Nordisk A/S Price Performance

NYSE:NVO traded up $0.27 during trading hours on Wednesday, hitting $68.30. 5,341,257 shares of the stock traded hands, compared to its average volume of 8,344,436. The company has a market cap of $306.50 billion, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42. Novo Nordisk A/S has a 1 year low of $66.88 and a 1 year high of $148.15. The stock has a 50 day moving average price of $81.89 and a 200 day moving average price of $97.68. 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 (NYSE:NVO - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share 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%. Sell-side 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. Stockholders of record on Monday, March 31st will be issued a $0.7874 dividend. This represents a dividend yield of 1.2%. The ex-dividend date is Monday, March 31st. This is an increase from Novo Nordisk A/S's previous semi-annual dividend of $0.51. Novo Nordisk A/S's payout ratio is 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.