Martin Investment Management LLC Sells 10,256 Shares of Novo Nordisk A/S (NYSE:NVO)

Martin Investment Management LLC decreased its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 282,163 shares of the company's stock after selling 10,256 shares during the period. Novo Nordisk A/S makes up 6.7% of Martin Investment Management LLC's investment portfolio, making the stock its 2nd largest holding. Martin Investment Management LLC's holdings in Novo Nordisk A/S were worth $24,272,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in NVO. Victory Capital Management Inc. grew its holdings in shares of Novo Nordisk A/S by 58.5% in the 4th quarter. Victory Capital Management Inc. now owns 62,897 shares of the company's stock worth $5,410,000 after acquiring an additional 23,223 shares during the period. Norman Fields Gottscho Capital Management LLC increased its position in shares of Novo Nordisk A/S by 45.3% in the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company's stock valued at $5,482,000 after buying an additional 19,870 shares in the last quarter. Bryn Mawr Capital Management LLC raised its stake in shares of Novo Nordisk A/S by 358.8% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 38,898 shares of the company's stock worth $3,346,000 after buying an additional 30,420 shares during the last quarter. Versant Capital Management Inc purchased a new stake in shares of Novo Nordisk A/S in the 4th quarter worth about $86,000. Finally, Talbot Financial LLC acquired a new stake in Novo Nordisk A/S in the 4th quarter valued at about $4,066,000. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Trading Down 6.7 %

NYSE NVO traded down $4.52 during trading hours on Friday, hitting $62.58. 10,847,371 shares of the company's stock were exchanged, compared to its average volume of 5,641,320. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. The firm has a market capitalization of $280.84 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 0.90 and a beta of 0.61. The business's 50 day moving average is $80.85 and its 200-day moving average is $96.75. Novo Nordisk A/S has a 12-month low of $62.37 and a 12-month high of $148.15.

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 (EPS) for the quarter, topping 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%. As a group, analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.7874 per share. This represents a dividend yield of 1.2%. 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. Novo Nordisk A/S's dividend payout ratio is presently 47.72%.

Analyst Ratings Changes

NVO has been the subject of a number of research reports. BMO Capital Markets cut their target price 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. Sanford C. Bernstein upgraded Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a research report on Monday, January 6th. StockNews.com downgraded Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a research report on Friday, March 21st. Morgan Stanley began coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They issued an "equal weight" rating on the stock. Finally, Kepler Capital Markets raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.