Pinpoint Asset Management Ltd Sells 26,628 Shares of Novo Nordisk A/S (NYSE:NVO)

Pinpoint Asset Management Ltd reduced its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 74.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,238 shares of the company's stock after selling 26,628 shares during the period. Pinpoint Asset Management Ltd's holdings in Novo Nordisk A/S were worth $795,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Center for Financial Planning Inc. lifted its holdings in 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 purchasing an additional 123 shares during the last quarter. Albion Financial Group UT boosted its holdings in shares of Novo Nordisk A/S by 121.4% during the 4th quarter. Albion Financial Group UT now owns 507 shares of the company's stock worth $44,000 after buying an additional 278 shares during the period. Sound Income Strategies LLC grew its stake in Novo Nordisk A/S by 82.1% in the 4th quarter. Sound Income Strategies LLC now owns 539 shares of the company's stock valued at $46,000 after buying an additional 243 shares during the last quarter. Hager Investment Management Services LLC bought a new position in Novo Nordisk A/S in the 4th quarter worth $46,000. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in Novo Nordisk A/S during the fourth quarter valued at about $47,000. Institutional investors own 11.54% of the company's stock.

Analyst Upgrades and Downgrades

NVO has been the subject of several research analyst reports. Kepler Capital Markets raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. StockNews.com upgraded shares of Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a research note on Monday. Sanford C. Bernstein raised Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a research report on Monday, January 6th. 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 on the stock in a research note on Monday, December 23rd. Finally, UBS Group upgraded shares of Novo Nordisk A/S from a "sell" rating to a "buy" rating in a research note on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $145.25.

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Novo Nordisk A/S Price Performance

Shares of NVO traded down $1.00 during trading hours on Tuesday, hitting $62.64. The stock had a trading volume of 3,797,274 shares, compared to its average volume of 5,672,695. Novo Nordisk A/S has a 52 week low of $60.61 and a 52 week high of $148.15. The stock has a market capitalization of $281.11 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of 0.90 and a beta of 0.61. The company's fifty day moving average is $80.37 and its two-hundred day moving average is $95.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share 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%. On average, analysts anticipate 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. Investors of record on Monday, March 31st will be issued a $0.7874 dividend. 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 is Monday, March 31st. Novo Nordisk A/S's dividend payout ratio is currently 47.72%.

About Novo Nordisk A/S

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.