Rhenman & Partners Asset Management AB Decreases Stake in Novo Nordisk A/S (NYSE:NVO)

Rhenman & Partners Asset Management AB reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 50.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,000 shares of the company's stock after selling 50,000 shares during the quarter. Rhenman & Partners Asset Management AB's holdings in Novo Nordisk A/S were worth $4,301,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GQG Partners LLC grew its holdings in Novo Nordisk A/S by 74.7% during the 4th 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. Loomis Sayles & Co. L P grew its stake in shares of Novo Nordisk A/S by 34.2% during the fourth 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. Folketrygdfondet raised its holdings in shares of Novo Nordisk A/S by 0.5% in the fourth quarter. Folketrygdfondet now owns 8,903,938 shares of the company's stock worth $765,917,000 after buying an additional 40,313 shares during the period. Sustainable Growth Advisers LP boosted its holdings in 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 acquiring an additional 1,021,498 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Novo Nordisk A/S in the 4th quarter valued at $404,910,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

NVO has been the subject of a number of recent analyst reports. UBS Group raised shares of Novo Nordisk A/S from a "sell" rating to a "buy" rating in a research note on Wednesday, January 8th. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. BMO Capital Markets decreased their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an "outperform" rating for the company in a research note on Monday, December 23rd. Morgan Stanley began coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an "equal weight" rating for the company. Finally, StockNews.com upgraded Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Novo Nordisk A/S presently has a consensus rating of "Moderate Buy" and an average target price of $145.25.

Novo Nordisk A/S Stock Down 2.4 %

Shares of NVO traded down $1.51 during trading hours on Wednesday, hitting $60.09. The company had a trading volume of 4,719,218 shares, compared to its average volume of 8,452,251. Novo Nordisk A/S has a one year low of $59.51 and a one year high of $148.15. The company's fifty day moving average price is $79.45 and its two-hundred day moving average price is $95.04. The company has a market capitalization of $269.67 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 0.90 and a beta of 0.61. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $0.91 EPS 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%. As a group, equities analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, April 8th. Investors of record on Monday, March 31st were given a dividend of $0.7874 per share. This is a positive change from Novo Nordisk A/S's previous semi-annual dividend of $0.51. This represents a yield of 1.2%. The ex-dividend date of this dividend was Monday, March 31st. Novo Nordisk A/S's dividend payout ratio is currently 49.54%.

Novo Nordisk A/S 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.