Princeton Capital Management LLC bought a new position in Novo Nordisk A/S (NYSE:NVO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 52,155 shares of the company’s stock, valued at approximately $2,799,000. Novo Nordisk A/S makes up about 1.3% of Princeton Capital Management LLC’s portfolio, making the stock its 27th biggest position.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Fisher Asset Management LLC grew its position in shares of Novo Nordisk A/S by 4.8% in the 4th quarter. Fisher Asset Management LLC now owns 12,705,477 shares of the company’s stock worth $681,903,000 after acquiring an additional 580,753 shares in the last quarter. BlackRock Inc. grew its position in shares of Novo Nordisk A/S by 342.2% in the 4th quarter. BlackRock Inc. now owns 9,423,284 shares of the company’s stock worth $505,747,000 after acquiring an additional 7,292,400 shares in the last quarter. Folketrygdfondet grew its position 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 in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Novo Nordisk A/S by 341.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,552,244 shares of the company’s stock worth $136,979,000 after acquiring an additional 1,974,129 shares in the last quarter. Finally, Saratoga Research & Investment Management grew its position in shares of Novo Nordisk A/S by 1.0% in the 4th quarter. Saratoga Research & Investment Management now owns 1,510,356 shares of the company’s stock worth $81,061,000 after acquiring an additional 14,800 shares in the last quarter. Institutional investors own 6.71% of the company’s stock.
Shares of Novo Nordisk A/S (NYSE:NVO) traded up $0.09 during midday trading on Wednesday, hitting $50.42. The company had a trading volume of 218,644 shares, compared to its average volume of 1,557,620. The company has a market cap of $124,302.27, a P/E ratio of 21.69, a price-to-earnings-growth ratio of 3.32 and a beta of 0.60. Novo Nordisk A/S has a 1-year low of $33.10 and a 1-year high of $58.37.
Novo Nordisk A/S (NYSE:NVO) last announced its quarterly 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). The company had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.27 billion. Novo Nordisk A/S had a return on equity of 82.72% and a net margin of 34.09%. equities research analysts expect that Novo Nordisk A/S will post 2.63 earnings per share for the current year.
The firm also recently announced a special dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Monday, March 26th will be paid a dividend of $0.8117 per share. This represents a yield of 0.96%. The ex-dividend date of this dividend is Friday, March 23rd. Novo Nordisk A/S’s payout ratio is currently 35.34%.
Novo Nordisk A/S announced that its Board of Directors has authorized a stock repurchase plan on Thursday, February 1st that allows the company to buyback outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Several brokerages have recently commented on NVO. Zacks Investment Research upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Friday, January 26th. Deutsche Bank reiterated a “buy” rating on shares of Novo Nordisk A/S in a research report on Monday, January 8th. JPMorgan Chase & Co. raised Novo Nordisk A/S from an “underweight” rating to a “neutral” rating in a report on Friday, December 29th. Bank of America raised Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Wednesday, December 6th. Finally, Morgan Stanley raised Novo Nordisk A/S from an “equal weight” rating to an “overweight” rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Novo Nordisk A/S presently has an average rating of “Hold” and an average price target 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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