DAVENPORT & Co LLC Has $62.41 Million Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

DAVENPORT & Co LLC increased its stake in shares of Novo Nordisk A/S (NYSE:NVOFree Report) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 604,774 shares of the company’s stock after buying an additional 1,917 shares during the period. DAVENPORT & Co LLC’s holdings in Novo Nordisk A/S were worth $62,407,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NVO. Jennison Associates LLC raised its holdings in 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 worth $2,129,761,000 after purchasing an additional 11,727,507 shares during the last quarter. FMR LLC increased its stake in shares of Novo Nordisk A/S by 122.7% in the 3rd quarter. FMR LLC now owns 12,077,501 shares of the company’s stock valued at $1,098,328,000 after acquiring an additional 6,654,614 shares during the last quarter. Morgan Stanley increased its stake in shares of Novo Nordisk A/S by 96.5% in the 3rd quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock valued at $838,021,000 after acquiring an additional 4,526,199 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in shares of Novo Nordisk A/S by 91.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock valued at $827,354,000 after acquiring an additional 4,350,862 shares during the last quarter. Finally, Polen Capital Management LLC bought a new stake in shares of Novo Nordisk A/S in the 3rd quarter valued at about $718,995,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NVO. UBS Group began coverage on Novo Nordisk A/S in a research note on Tuesday, January 16th. They issued a “neutral” rating for the company. Morgan Stanley initiated coverage on Novo Nordisk A/S in a research note on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 target price for the company. TD Cowen increased their target price on Novo Nordisk A/S from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, December 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.25.

Check Out Our Latest Analysis on Novo Nordisk A/S

Novo Nordisk A/S Stock Down 0.9 %

NYSE:NVO traded down $1.09 during trading hours on Tuesday, reaching $126.46. 4,320,612 shares of the stock were exchanged, compared to its average volume of 5,184,224. The stock has a market cap of $567.47 billion, a PE ratio of 46.26, a PEG ratio of 2.12 and a beta of 0.41. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.64. Novo Nordisk A/S has a twelve month low of $75.56 and a twelve month high of $138.28. The firm has a 50 day moving average of $123.05 and a 200 day moving average of $106.45.

Novo Nordisk A/S (NYSE:NVOGet Free Report) last released its quarterly earnings data on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. The company had revenue of $9.51 billion during the quarter, compared to the consensus estimate of $9.14 billion. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. On average, equities analysts expect that Novo Nordisk A/S will post 3.35 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, April 2nd. Stockholders of record on Monday, March 25th will be issued a $0.664 dividend. This represents a dividend yield of 0.9%. The ex-dividend date is Friday, March 22nd. This is an increase from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. Novo Nordisk A/S’s dividend payout ratio is presently 49.17%.

Novo Nordisk A/S Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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