Penobscot Investment Management Company Inc. Grows Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Penobscot Investment Management Company Inc. boosted its position in Novo Nordisk A/S (NYSE:NVO) by 15.3% in the 4th quarter, Holdings Channel reports. The fund owned 32,174 shares of the company’s stock after purchasing an additional 4,269 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Novo Nordisk A/S were worth $3,328,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC grew 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 valued at $2,129,761,000 after buying an additional 11,727,507 shares during the period. Polen Capital Management LLC purchased a new stake in shares of Novo Nordisk A/S during the 3rd quarter valued at $718,995,000. FMR LLC boosted its position in Novo Nordisk A/S by 122.7% during the 3rd quarter. FMR LLC now owns 12,077,501 shares of the company’s stock worth $1,098,328,000 after purchasing an additional 6,654,614 shares during the period. Morgan Stanley boosted its position in Novo Nordisk A/S by 96.5% during the 3rd quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock worth $838,021,000 after purchasing an additional 4,526,199 shares during the period. Finally, Loomis Sayles & Co. L P boosted its position 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 worth $827,354,000 after purchasing an additional 4,350,862 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NVO shares. UBS Group started coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 16th. They set a “neutral” rating for the company. BMO Capital Markets started coverage on shares of Novo Nordisk A/S in a research report on Friday, April 12th. They set an “outperform” rating and a $163.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday, April 18th. Finally, Morgan Stanley started coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and a consensus price target of $133.60.

Novo Nordisk A/S Stock Up 0.9 %

Shares of Novo Nordisk A/S stock traded up $1.12 during trading on Tuesday, reaching $128.00. The company had a trading volume of 5,406,178 shares, compared to its average volume of 4,772,487. The company has a market cap of $574.40 billion, a price-to-earnings ratio of 47.77, a price-to-earnings-growth ratio of 2.12 and a beta of 0.41. The firm’s fifty day moving average is $126.92 and its 200-day moving average is $112.40. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.64 and a current ratio of 0.82. Novo Nordisk A/S has a fifty-two week low of $75.56 and a fifty-two week high of $138.28.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. The firm had revenue of $9.51 billion for the quarter, compared to analysts’ expectations of $9.14 billion. On average, analysts anticipate that Novo Nordisk A/S will post 3.32 EPS for the current year.

Novo Nordisk A/S Increases Dividend

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

Novo Nordisk A/S Company Profile

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.