Cinctive Capital Management LP Takes Position in Novo Nordisk A/S (NYSE:NVO)

Cinctive Capital Management LP purchased a new position in Novo Nordisk A/S (NYSE:NVO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,678 shares of the company’s stock, valued at approximately $574,000.

Other institutional investors have also added to or reduced their stakes in the company. Center for Financial Planning Inc. grew its position in shares of Novo Nordisk A/S by 72.4% in the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after buying an additional 123 shares during the period. Albion Financial Group UT grew its holdings in Novo Nordisk A/S by 121.4% in the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock worth $44,000 after purchasing an additional 278 shares during the period. Sound Income Strategies LLC increased its stake in shares of Novo Nordisk A/S by 82.1% during the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock valued at $46,000 after purchasing an additional 243 shares in the last quarter. Hager Investment Management Services LLC purchased a new position in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $46,000. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in shares of Novo Nordisk A/S in the 4th quarter worth approximately $47,000. Institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Kepler Capital Markets raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Finally, StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Friday, March 21st. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.25.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO opened at $67.08 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average price is $81.36 and its 200-day moving average price is $97.26. Novo Nordisk A/S has a 52-week low of $65.53 and a 52-week high of $148.15. The company has a market cap of $301.04 billion, a PE ratio of 20.39, a PEG ratio of 0.90 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. As a group, analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be issued a $0.7874 dividend. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date is Monday, March 31st. This represents a yield of 1.2%. Novo Nordisk A/S’s dividend payout ratio is currently 47.72%.

Novo Nordisk A/S 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.