Redmond Asset Management LLC held its stake in shares of Novo Nordisk A/S (NYSE:NVO) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,044 shares of the company’s stock at the end of the fourth quarter. Redmond Asset Management LLC’s holdings in Novo Nordisk A/S were worth $575,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the stock. JNBA Financial Advisors boosted its stake in shares of Novo Nordisk A/S by 60.5% in the fourth quarter. JNBA Financial Advisors now owns 3,437 shares of the company’s stock valued at $123,000 after buying an additional 1,295 shares during the period. Ranger International Management LP boosted its stake in Novo Nordisk A/S by 49.1% in the second quarter. Ranger International Management LP now owns 2,430 shares of the company’s stock worth $131,000 after buying an additional 800 shares during the last quarter. Physicians Financial Services Inc. bought a new stake in Novo Nordisk A/S during the third quarter worth $145,000. Advisory Services Network LLC boosted its stake in Novo Nordisk A/S by 70.2% in the third quarter. Advisory Services Network LLC now owns 3,808 shares of the company’s stock worth $158,000 after buying an additional 1,570 shares during the last quarter. Finally, Flow Traders U.S. LLC bought a new stake in Novo Nordisk A/S during the second quarter worth $184,000. 6.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Novo Nordisk A/S (NYSE:NVO) traded down 0.240% during midday trading on Friday, hitting $35.355. 822,362 shares of the company’s stock traded hands. The company has a 50 day moving average of $35.34 and a 200 day moving average of $39.44. Novo Nordisk A/S has a 52 week low of $30.89 and a 52 week high of $57.81. The stock has a market cap of $88.54 billion, a P/E ratio of 16.490 and a beta of 0.83.
The company also recently declared an annual dividend, which will be paid on Tuesday, April 4th. Investors of record on Monday, March 27th will be given a dividend of $0.6634 per share. This represents a dividend yield of 1.99%. The ex-dividend date is Thursday, March 23rd. Novo Nordisk A/S’s dividend payout ratio is currently 46.19%.
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NVO has been the topic of a number of analyst reports. Jefferies Group LLC reiterated a “hold” rating on shares of Novo Nordisk A/S in a research report on Tuesday, December 20th. DNB Markets lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday, October 31st. Zacks Investment Research upgraded shares of Novo Nordisk A/S from a “sell” rating to a “hold” rating in a research report on Tuesday, January 31st. Citigroup Inc. lowered shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Monday, October 31st. Finally, Bank of America Corporation lowered shares of Novo Nordisk A/S from a “neutral” rating to an “underperform” rating in a research report on Friday, October 28th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $60.00.
About Novo Nordisk A/S
Novo Nordisk A/S is a healthcare company. The Company is engaged in discovery, development, manufacturing and marketing of pharmaceutical products. The Company’s business segments include diabetes and obesity care, and biopharmaceuticals. The diabetes and obesity care segment covers insulins, glucagon-like peptide-1 (GLP-1), other protein-related products (such as glucagon, protein-related delivery systems and needles), oral anti-diabetic drugs and obesity.
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