Headinvest LLC cut its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 2.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 106,600 shares of the company’s stock after selling 2,535 shares during the period. Novo Nordisk A/S makes up 1.8% of Headinvest LLC’s investment portfolio, making the stock its 21st biggest holding. Headinvest LLC’s holdings in Novo Nordisk A/S were worth $5,721,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Fisher Asset Management LLC raised its stake in shares of Novo Nordisk A/S by 4.8% during the 4th quarter. Fisher Asset Management LLC now owns 12,705,477 shares of the company’s stock worth $681,903,000 after buying an additional 580,753 shares in the last quarter. Orbimed Advisors LLC acquired a new stake in shares of Novo Nordisk A/S in the 3rd quarter worth approximately $15,890,000. Folketrygdfondet grew its holdings in shares of Novo Nordisk A/S by 4.4% in the 3rd quarter. Folketrygdfondet now owns 7,217,043 shares of the company’s stock worth $347,501,000 after acquiring an additional 302,851 shares during the period. CI Investments Inc. acquired a new stake in shares of Novo Nordisk A/S in the 3rd quarter worth approximately $14,511,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Novo Nordisk A/S in the 2nd quarter worth approximately $9,169,000. 6.16% of the stock is owned by hedge funds and other institutional investors.
Shares of Novo Nordisk A/S (NYSE NVO) traded up $0.58 on Wednesday, hitting $50.73. The company had a trading volume of 730,449 shares, compared to its average volume of 1,486,970. The stock has a market cap of $98,540.00, a price-to-earnings ratio of 19.86, a P/E/G ratio of 3.26 and a beta of 0.57. Novo Nordisk A/S has a twelve month low of $32.89 and a twelve month high of $58.37.
Novo Nordisk A/S declared that its board has approved a stock repurchase plan on Thursday, February 1st that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a special dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Monday, March 26th will be given a $0.8117 dividend. This represents a yield of 0.96%. The ex-dividend date is Friday, March 23rd. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 32.16%.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Friday, January 26th. Deutsche Bank reiterated a “buy” rating on shares of Novo Nordisk A/S in a report on Monday, January 8th. JPMorgan Chase & Co. upgraded Novo Nordisk A/S from an “underweight” rating to a “neutral” rating in a report on Friday, December 29th. Morgan Stanley upgraded Novo Nordisk A/S from an “equal weight” rating to an “overweight” rating in a report on Friday, December 1st. Finally, Bank of America upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Wednesday, December 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Novo Nordisk A/S currently has an average rating of “Hold” and an average target price of $64.00.
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About Novo Nordisk A/S
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company’s diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.
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