Triasima Portfolio Management inc. Sells 2,176 Shares of Novo Nordisk A/S (NYSE:NVO)

Triasima Portfolio Management inc. trimmed its holdings in shares of Novo Nordisk A/S (NYSE:NVOFree Report) by 3.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,268 shares of the company’s stock after selling 2,176 shares during the period. Triasima Portfolio Management inc.’s holdings in Novo Nordisk A/S were worth $6,855,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NVO. Jennison Associates LLC raised its stake in shares of Novo Nordisk A/S by 100.3% during the 3rd quarter. Jennison Associates LLC now owns 23,419,405 shares of the company’s stock worth $2,129,761,000 after purchasing an additional 11,727,507 shares during the period. Polen Capital Management LLC purchased a new stake in Novo Nordisk A/S in the 3rd quarter worth about $718,995,000. FMR LLC increased its holdings in Novo Nordisk A/S by 122.7% in the 3rd quarter. FMR LLC now owns 12,077,501 shares of the company’s stock worth $1,098,328,000 after acquiring an additional 6,654,614 shares during the last quarter. Morgan Stanley increased its holdings in Novo Nordisk A/S by 96.5% in the 3rd quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock worth $838,021,000 after acquiring an additional 4,526,199 shares during the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in Novo Nordisk A/S by 91.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock valued at $827,354,000 after buying an additional 4,350,862 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NVO shares. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Monday, April 1st. BMO Capital Markets initiated coverage on Novo Nordisk A/S in a research report on Friday. They issued an “outperform” rating and a $163.00 price objective for the company. Morgan Stanley initiated coverage on Novo Nordisk A/S in a research report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price objective for the company. Finally, UBS Group assumed coverage on Novo Nordisk A/S in a research report on Tuesday, January 16th. They issued a “neutral” rating for the company. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.60.

View Our Latest Research Report on Novo Nordisk A/S

Novo Nordisk A/S Stock Down 0.7 %

NVO stock traded down $0.89 during midday trading on Friday, hitting $124.51. The stock had a trading volume of 3,343,015 shares, compared to its average volume of 3,653,790. The firm has a market cap of $558.74 billion, a price-to-earnings ratio of 46.03, a price-to-earnings-growth ratio of 2.09 and a beta of 0.41. The business has a 50-day moving average of $125.93 and a two-hundred day moving average of $109.61. Novo Nordisk A/S has a 52-week low of $75.56 and a 52-week high of $138.28. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.64.

Novo Nordisk A/S (NYSE:NVOGet Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. The company had revenue of $9.51 billion for the quarter, compared to analysts’ expectations of $9.14 billion. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. As a group, equities research analysts forecast that Novo Nordisk A/S will post 3.33 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 25th were paid a $0.664 dividend. This is a boost from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. This represents a dividend yield of 0.9%. The ex-dividend date was Friday, March 22nd. Novo Nordisk A/S’s dividend payout ratio is currently 49.17%.

Novo Nordisk A/S Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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