Parnassus Investments LLC Makes New $51.07 Million Investment in Novo Nordisk A/S (NYSE:NVO)

Parnassus Investments LLC bought a new position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 593,722 shares of the company's stock, valued at approximately $51,072,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Marco Investment Management LLC lifted its holdings in shares of Novo Nordisk A/S by 1.5% during the third quarter. Marco Investment Management LLC now owns 6,702 shares of the company's stock valued at $798,000 after acquiring an additional 100 shares during the period. Menard Financial Group LLC lifted its holdings in Novo Nordisk A/S by 0.8% during the 3rd quarter. Menard Financial Group LLC now owns 12,283 shares of the company's stock valued at $1,463,000 after purchasing an additional 102 shares during the last quarter. Optimist Retirement Group LLC lifted its holdings in Novo Nordisk A/S by 4.3% during the 3rd 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. Financial Counselors Inc. lifted its holdings in Novo Nordisk A/S by 1.1% during the 3rd quarter. Financial Counselors Inc. now owns 11,009 shares of the company's stock valued at $1,311,000 after purchasing an additional 115 shares during the last quarter. Finally, M. Kulyk & Associates LLC lifted its holdings in Novo Nordisk A/S by 3.9% during the 4th quarter. M. Kulyk & Associates LLC now owns 3,182 shares of the company's stock valued at $274,000 after purchasing an additional 119 shares during the last quarter. Institutional investors own 11.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NVO shares. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They issued an "equal weight" rating for the company. BMO Capital Markets cut their price objective 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. StockNews.com upgraded Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a research report on Thursday. UBS Group raised Novo Nordisk A/S from a "sell" rating to a "buy" rating in a report on Wednesday, January 8th. Finally, Stifel Nicolaus cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $145.25.

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Novo Nordisk A/S Trading Up 1.3 %

NVO stock opened at $75.76 on Friday. The company has a market cap of $339.98 billion, a P/E ratio of 23.03, a PEG ratio of 0.90 and a beta of 0.42. Novo Nordisk A/S has a twelve month low of $73.80 and a twelve month high of $148.15. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average of $84.15 and a 200-day moving average of $103.64.

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, 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 research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be paid a $0.7874 dividend. The ex-dividend date is Monday, March 31st. This is a boost from Novo Nordisk A/S's previous semi-annual dividend of $0.51. This represents a yield of 1.2%. Novo Nordisk A/S's dividend payout ratio (DPR) is presently 47.72%.

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.

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