Cim LLC increased its stake in Novo Nordisk A/S (NYSE:NVO) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,053 shares of the company’s stock after buying an additional 8,020 shares during the period. Novo Nordisk A/S accounts for 4.3% of Cim LLC’s portfolio, making the stock its 6th largest position. Cim LLC’s holdings in Novo Nordisk A/S were worth $10,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently added to or reduced their stakes in NVO. Zions Bancorporation raised its stake in Novo Nordisk A/S by 677.1% in the third quarter. Zions Bancorporation now owns 2,852 shares of the company’s stock worth $137,000 after buying an additional 2,485 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Novo Nordisk A/S by 84.2% in the second quarter. Quadrant Capital Group LLC now owns 4,564 shares of the company’s stock worth $175,000 after buying an additional 2,086 shares in the last quarter. Addenda Capital Inc. bought a new position in Novo Nordisk A/S in the fourth quarter worth about $201,000. Charter Trust Co. bought a new position in Novo Nordisk A/S in the fourth quarter worth about $201,000. Finally, Kimelman & Baird LLC purchased a new stake in Novo Nordisk A/S in the second quarter worth about $214,000. 6.16% of the stock is owned by institutional investors.
Shares of Novo Nordisk A/S (NYSE:NVO) traded up $0.65 on Wednesday, reaching $50.80. 1,142,609 shares of the company’s stock were exchanged, compared to its average volume of 1,530,000. Novo Nordisk A/S has a twelve month low of $32.89 and a twelve month high of $58.37. The stock has a market capitalization of $99,400.00, a PE ratio of 19.92, a PEG ratio of 3.26 and a beta of 0.57.
Novo Nordisk A/S announced that its board has approved a share buyback plan on Thursday, February 1st that permits the company to buyback outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a special dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Monday, March 26th will be issued a dividend of $0.8117 per share. This represents a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, March 23rd. Novo Nordisk A/S’s payout ratio is 32.16%.
NVO has been the topic of a number of recent research reports. Morgan Stanley upgraded shares of Novo Nordisk A/S from an “equal weight” rating to an “overweight” rating in a report on Friday, December 1st. Deutsche Bank restated a “buy” rating on shares of Novo Nordisk A/S in a report on Monday, January 8th. Zacks Investment Research upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Friday, January 26th. JPMorgan Chase & Co. upgraded shares of Novo Nordisk A/S from an “underweight” rating to a “neutral” rating in a report on Friday, December 29th. Finally, Bank of America upgraded shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Novo Nordisk A/S has a consensus rating of “Hold” and an average target price of $64.00.
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Novo Nordisk A/S Company Profile
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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