Meitav Dash Investments Ltd. cut its stake in Novo Nordisk A/S (NYSE:NVO – Get Rating) by 24.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,182 shares of the company’s stock after selling 17,662 shares during the period. Meitav Dash Investments Ltd.’s holdings in Novo Nordisk A/S were worth $5,947,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of NVO. Capital International Investors boosted its stake in shares of Novo Nordisk A/S by 3.3% in the 4th quarter. Capital International Investors now owns 5,653,043 shares of the company’s stock valued at $631,330,000 after buying an additional 179,049 shares during the period. WCM Investment Management LLC boosted its stake in shares of Novo Nordisk A/S by 14.7% in the 1st quarter. WCM Investment Management LLC now owns 2,850,711 shares of the company’s stock valued at $316,571,000 after buying an additional 365,146 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of Novo Nordisk A/S by 3.5% in the 4th quarter. Parametric Portfolio Associates LLC now owns 2,428,890 shares of the company’s stock valued at $272,036,000 after buying an additional 82,760 shares during the period. Envestnet Asset Management Inc. lifted its stake in Novo Nordisk A/S by 13.1% during the first quarter. Envestnet Asset Management Inc. now owns 1,603,633 shares of the company’s stock worth $178,083,000 after purchasing an additional 186,122 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Novo Nordisk A/S by 14.3% during the fourth quarter. Northern Trust Corp now owns 1,365,814 shares of the company’s stock worth $152,972,000 after purchasing an additional 171,161 shares during the last quarter.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the company. Cowen upgraded Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Monday, April 25th. Guggenheim raised Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 31st. Barclays lifted their price target on Novo Nordisk A/S from 850.00 to 875.00 and gave the stock an “overweight” rating in a research report on Thursday, May 12th. BNP Paribas raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $750.00 price target on the stock in a research report on Monday, June 27th. Finally, Berenberg Bank lifted their price target on Novo Nordisk A/S from 585.00 to 780.00 and gave the stock a “hold” rating in a research report on Tuesday, April 19th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $682.43.
Novo Nordisk A/S Price Performance
Novo Nordisk A/S Cuts Dividend
The company also recently declared a semi-annual dividend, which will be paid on Tuesday, August 23rd. Stockholders of record on Monday, August 15th will be issued a dividend of $0.5836 per share. The ex-dividend date of this dividend is Friday, August 12th. This represents a dividend yield of 1.1%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 44.18%.
Novo Nordisk A/S Profile
Novo Nordisk A/S, a healthcare company, engages in the research, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes and Obesity care, and Biopharm. The Diabetes and Obesity care segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral antidiabetic products, obesity, and other chronic diseases.
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