Renaissance Investment Group LLC Sells 476 Shares of Novo Nordisk A/S (NYSE:NVO)

Renaissance Investment Group LLC decreased its stake in shares of Novo Nordisk A/S (NYSE:NVO – Get Rating) by 16.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,498 shares of the company’s stock after selling 476 shares during the period. Renaissance Investment Group LLC’s holdings in Novo Nordisk A/S were worth $338,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. boosted its holdings in Novo Nordisk A/S by 45.4% in the 1st quarter. BlackRock Inc. now owns 5,035,879 shares of the company’s stock valued at $559,235,000 after purchasing an additional 1,571,747 shares during the period. WCM Investment Management LLC boosted its holdings in Novo Nordisk A/S by 35.1% in the 2nd quarter. WCM Investment Management LLC now owns 3,850,053 shares of the company’s stock valued at $423,814,000 after purchasing an additional 999,342 shares during the period. Eaton Vance Management boosted its holdings in Novo Nordisk A/S by 289.1% in the 3rd quarter. Eaton Vance Management now owns 1,088,926 shares of the company’s stock valued at $108,489,000 after purchasing an additional 809,078 shares during the period. First Trust Advisors LP boosted its holdings in Novo Nordisk A/S by 36,122.5% in the 3rd quarter. First Trust Advisors LP now owns 669,754 shares of the company’s stock valued at $66,727,000 after purchasing an additional 667,905 shares during the period. Finally, Fayez Sarofim & Co boosted its holdings in Novo Nordisk A/S by 9.4% in the 3rd quarter. Fayez Sarofim & Co now owns 5,218,104 shares of the company’s stock valued at $519,878,000 after purchasing an additional 450,280 shares during the period. Institutional investors own 6.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on NVO. Cowen boosted their price objective on shares of Novo Nordisk A/S from $130.00 to $145.00 in a report on Monday, December 12th. StockNews.com assumed coverage on shares of Novo Nordisk A/S in a research report on Thursday. They issued a “strong-buy” rating for the company. Cowen boosted their target price on shares of Novo Nordisk A/S from $130.00 to $145.00 in a research report on Monday, December 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Novo Nordisk A/S from 925.00 to 1,100.00 and gave the company an “overweight” rating in a research report on Tuesday, January 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and a consensus price target of $697.78.

Novo Nordisk A/S Price Performance

NVO stock traded up $0.55 during trading on Friday, reaching $139.44. 1,727,274 shares of the company were exchanged, compared to its average volume of 1,292,450. The company has a 50-day moving average of $139.97 and a two-hundred day moving average of $123.57. The company has a market capitalization of $315.55 billion, a price-to-earnings ratio of 40.18, a P/E/G ratio of 1.47 and a beta of 0.47. Novo Nordisk A/S has a twelve month low of $95.02 and a twelve month high of $145.94. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.89 and a quick ratio of 0.69.

Novo Nordisk A/S Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 4th. Investors of record on Monday, March 27th will be given a dividend of $1.1887 per share. This represents a yield of 0.8%. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.58. The ex-dividend date is Friday, March 24th. Novo Nordisk A/S’s dividend payout ratio is currently 23.34%.

Novo Nordisk A/S Company Profile

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Novo Nordisk A/S is a global healthcare company, which engages in the the discovery, development, manufacturing and marketing of pharmaceutical products. It operates through the Diabetes and Obesity Care, and Biopharm segments. The Diabetes and Obesity Care segment includes insulin, GLP-1 and related delivery systems, oral antidiabetic products (OAD), obesity, and other serious chronic diseases.