Novo Nordisk A/S (NYSE:NVO) Shares Sold by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB decreased its stake in Novo Nordisk A/S (NYSE:NVO) by 50.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,000 shares of the company’s stock after selling 50,000 shares during the quarter. Rhenman & Partners Asset Management AB’s holdings in Novo Nordisk A/S were worth $4,301,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Center for Financial Planning Inc. grew its stake in shares of Novo Nordisk A/S by 72.4% during the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after purchasing an additional 123 shares during the period. Dunhill Financial LLC boosted its holdings in Novo Nordisk A/S by 196.8% during the third quarter. Dunhill Financial LLC now owns 469 shares of the company’s stock worth $56,000 after buying an additional 311 shares in the last quarter. Albion Financial Group UT grew its position in Novo Nordisk A/S by 121.4% during the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after buying an additional 278 shares during the period. Hager Investment Management Services LLC acquired a new stake in Novo Nordisk A/S during the fourth quarter valued at $46,000. Finally, Sound Income Strategies LLC increased its holdings in Novo Nordisk A/S by 82.1% in the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock valued at $46,000 after buying an additional 243 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Down 6.7 %

NYSE NVO opened at $62.58 on Friday. The business has a fifty day moving average price of $80.85 and a 200 day moving average price of $96.75. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. The company has a market cap of $280.84 billion, a P/E ratio of 19.02, a P/E/G ratio of 0.90 and a beta of 0.61. Novo Nordisk A/S has a one year low of $62.37 and a one year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, beating 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%. Research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an “equal weight” rating on the stock. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. BMO Capital Markets cut their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Finally, StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Friday, March 21st. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.25.

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.