Penobscot Investment Management Company Inc. cut its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 14.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,569 shares of the company's stock after selling 5,850 shares during the quarter. Penobscot Investment Management Company Inc.'s holdings in Novo Nordisk A/S were worth $3,060,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Menard Financial Group LLC boosted its position 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 period. Optimist Retirement Group LLC lifted its stake in 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 buying an additional 112 shares during the last quarter. Financial Counselors Inc. boosted its holdings in shares of Novo Nordisk A/S by 1.1% during the third quarter. Financial Counselors Inc. now owns 11,009 shares of the company's stock valued at $1,311,000 after acquiring an additional 115 shares during the period. M. Kulyk & Associates LLC grew its position 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 acquiring an additional 119 shares during the last quarter. Finally, Center for Financial Planning Inc. increased its holdings in shares of Novo Nordisk A/S by 72.4% in the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company's stock worth $25,000 after acquiring an additional 123 shares during the period. Institutional investors and hedge funds own 11.54% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. Kepler Capital Markets raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. BMO Capital Markets reduced 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 cut Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a research report on Friday, March 21st. BNP Paribas raised Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, December 2nd. Finally, Stifel Nicolaus cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $145.25.
Check Out Our Latest Report on Novo Nordisk A/S
Novo Nordisk A/S Price Performance
NYSE NVO traded down $0.81 on Friday, reaching $69.36. 5,852,065 shares of the stock traded hands, compared to its average volume of 5,563,763. Novo Nordisk A/S has a 12 month low of $69.18 and a 12 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 firm's fifty day simple moving average is $82.33 and its 200 day simple moving average is $98.89. The company has a market cap of $311.23 billion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 0.90 and a beta of 0.42.
Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate 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 predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.
Novo Nordisk A/S Increases Dividend
The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be issued a dividend of $0.7874 per share. This represents a yield of 1.2%. This is a boost 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 (DPR) is presently 47.72%.
About Novo Nordisk A/S
(
Free Report)
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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