Clearbridge Investments LLC increased its position in shares of Novo Nordisk (NYSE:NVO) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 479,759 shares of the company’s stock after buying an additional 29,610 shares during the quarter. Clearbridge Investments LLC’s holdings in Novo Nordisk were worth $25,749,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC raised its holdings in Novo Nordisk by 9.5% in the 4th quarter. Renaissance Technologies LLC now owns 15,731,200 shares of the company’s stock valued at $844,294,000 after acquiring an additional 1,369,900 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Novo Nordisk by 4.8% in the 4th quarter. Fisher Asset Management LLC now owns 12,705,477 shares of the company’s stock valued at $681,903,000 after purchasing an additional 580,753 shares during the last quarter. BlackRock Inc. increased its stake in shares of Novo Nordisk by 342.2% in the 4th quarter. BlackRock Inc. now owns 9,423,284 shares of the company’s stock valued at $505,747,000 after purchasing an additional 7,292,400 shares during the last quarter. Folketrygdfondet increased its stake in shares of Novo Nordisk by 4.4% in the 3rd quarter. Folketrygdfondet now owns 7,217,043 shares of the company’s stock valued at $347,501,000 after purchasing an additional 302,851 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Novo Nordisk by 341.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,552,244 shares of the company’s stock valued at $136,979,000 after purchasing an additional 1,974,129 shares during the last quarter. Hedge funds and other institutional investors own 6.71% of the company’s stock.
NYSE NVO traded down $0.25 on Friday, hitting $48.57. 935,748 shares of the stock traded hands, compared to its average volume of 1,180,862. The firm has a market cap of $119,293.04, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 2.39 and a beta of 0.67. Novo Nordisk has a 12 month low of $35.10 and a 12 month high of $58.37.
Novo Nordisk (NYSE:NVO) last posted its earnings results on Thursday, February 1st. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.04). Novo Nordisk had a return on equity of 82.72% and a net margin of 34.09%. The company had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.27 billion. equities research analysts anticipate that Novo Nordisk will post 2.63 earnings per share for the current fiscal year.
Novo Nordisk announced that its board has authorized 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 a sign that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a special dividend, which was paid on Tuesday, April 3rd. Investors of record on Monday, March 26th were given a $0.8117 dividend. The ex-dividend date was Friday, March 23rd. This represents a dividend yield of 0.96%. Novo Nordisk’s dividend payout ratio (DPR) is presently 38.89%.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research raised Novo Nordisk from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Tuesday, January 2nd. JPMorgan Chase raised Novo Nordisk from an “underweight” rating to a “neutral” rating in a research note on Friday, December 29th. Finally, Deutsche Bank reaffirmed a “buy” rating on shares of Novo Nordisk in a research note on Monday, January 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $64.00.
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Novo Nordisk Company Profile
Novo Nordisk A/S, a healthcare company, engages in the discovery, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides insulins, GLP-1 and related delivery systems, and oral anti-diabetic drugs and obesity.
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