Saratoga Research & Investment Management Lowers Holdings in Novo Nordisk A/S (NYSE:NVO)

Saratoga Research & Investment Management decreased its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 700,634 shares of the company's stock after selling 7,885 shares during the period. Novo Nordisk A/S accounts for approximately 3.0% of Saratoga Research & Investment Management's holdings, making the stock its 13th biggest holding. Saratoga Research & Investment Management's holdings in Novo Nordisk A/S were worth $60,269,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in NVO. GQG Partners LLC increased its holdings in shares of Novo Nordisk A/S by 74.7% in the fourth 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 in the last quarter. Loomis Sayles & Co. L P increased its stake in shares of Novo Nordisk A/S by 34.2% in the 4th 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 period. Folketrygdfondet raised its position in shares of Novo Nordisk A/S by 0.5% during the fourth quarter. Folketrygdfondet now owns 8,903,938 shares of the company's stock worth $765,917,000 after acquiring an additional 40,313 shares during the last quarter. Sustainable Growth Advisers LP lifted its stake in shares of Novo Nordisk A/S by 23.6% during the fourth 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 fourth quarter valued at about $404,910,000. Institutional investors own 11.54% of the company's stock.

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Novo Nordisk A/S Price Performance

NYSE:NVO traded up $0.17 during trading hours on Wednesday, reaching $68.20. 7,120,047 shares of the company were exchanged, compared to its average volume of 5,587,466. The company has a market capitalization of $306.05 billion, a P/E ratio of 20.73, a P/E/G ratio of 0.90 and a beta of 0.42. 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 has a 1-year low of $66.81 and a 1-year high of $148.15. The business has a 50 day moving average of $81.89 and a 200 day moving average of $97.68.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued 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%. Research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NVO shares. Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. BMO Capital Markets cut their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an "outperform" rating on the stock in a report on Monday, December 23rd. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They set an "equal weight" rating for the company. UBS Group raised Novo Nordisk A/S from a "sell" rating to a "buy" rating in a research note on Wednesday, January 8th. Finally, Sanford C. Bernstein raised Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $145.25.

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.