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

Martin Investment Management LLC cut its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 282,163 shares of the company's stock after selling 10,256 shares during the quarter. Novo Nordisk A/S makes up approximately 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 SEC filing.

Other hedge funds also recently modified their holdings of the company. Menard Financial Group LLC grew its stake in Novo Nordisk A/S by 0.8% in the 3rd quarter. Menard Financial Group LLC now owns 12,283 shares of the company's stock valued at $1,463,000 after buying an additional 102 shares during the last quarter. Optimist Retirement Group LLC grew its position in shares of Novo Nordisk A/S by 4.3% in the third quarter. Optimist Retirement Group LLC now owns 2,747 shares of the company's stock valued at $327,000 after purchasing an additional 112 shares during the last quarter. M. Kulyk & Associates LLC increased its stake in shares of Novo Nordisk A/S by 3.9% during the fourth quarter. M. Kulyk & Associates LLC now owns 3,182 shares of the company's stock worth $274,000 after purchasing an additional 119 shares during the period. Center for Financial Planning Inc. lifted its holdings in Novo Nordisk A/S by 72.4% during the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company's stock worth $25,000 after purchasing an additional 123 shares during the last quarter. Finally, Tradewinds Capital Management LLC boosted its stake in Novo Nordisk A/S by 2.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 4,984 shares of the company's stock valued at $429,000 after purchasing an additional 124 shares during the period. Institutional investors and hedge funds own 11.54% of the company's stock.

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Analyst Ratings Changes

Several research firms have weighed in on NVO. BMO Capital Markets lowered their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an "outperform" rating on the stock in a research report on Monday, December 23rd. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a research report on Monday, January 6th. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an "equal weight" rating for the company. StockNews.com lowered shares of Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a research report on Friday, March 21st. Finally, Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Novo Nordisk A/S presently has an average rating of "Moderate Buy" and an average target price of $145.25.

Novo Nordisk A/S Price Performance

NVO stock traded down $1.16 during mid-day trading on Thursday, hitting $67.08. The stock had a trading volume of 8,818,417 shares, compared to its average volume of 5,606,079. The firm has a fifty day simple moving average of $81.64 and a 200 day simple moving average of $97.47. Novo Nordisk A/S has a 52 week low of $66.88 and a 52 week high of $148.15. 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 firm has a market capitalization of $301.04 billion, a P/E ratio of 20.39, a P/E/G ratio of 0.90 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued 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 return on equity of 84.68% and a net margin of 34.81%. As a group, research 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. Stockholders of record on Monday, March 31st will be paid a $0.7874 dividend. This is an increase from Novo Nordisk A/S's previous semi-annual dividend of $0.51. This represents a dividend yield of 1.2%. The ex-dividend date is Monday, March 31st. Novo Nordisk A/S's dividend payout ratio (DPR) is presently 47.72%.

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.