Penobscot Investment Management Company Inc. Buys 4,269 Shares of Novo Nordisk A/S (NYSE:NVO)

Penobscot Investment Management Company Inc. boosted its stake in Novo Nordisk A/S (NYSE:NVO) by 15.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,174 shares of the company’s stock after acquiring an additional 4,269 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Novo Nordisk A/S were worth $3,328,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Jennison Associates LLC boosted its holdings in shares of 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 buying an additional 11,727,507 shares in the last quarter. FMR LLC raised its position in shares of Novo Nordisk A/S by 122.7% during the third quarter. FMR LLC now owns 12,077,501 shares of the company’s stock worth $1,098,328,000 after purchasing an additional 6,654,614 shares during the period. Morgan Stanley raised its position in shares of Novo Nordisk A/S by 96.5% during the third quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock worth $838,021,000 after purchasing an additional 4,526,199 shares during the period. Loomis Sayles & Co. L P raised its position in shares of Novo Nordisk A/S by 91.7% during the third quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock worth $827,354,000 after purchasing an additional 4,350,862 shares during the period. Finally, Polen Capital Management LLC acquired a new position in shares of Novo Nordisk A/S during the third quarter worth approximately $718,995,000. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Price Performance

Shares of NVO traded up $1.12 during trading hours on Tuesday, reaching $128.00. 5,406,178 shares of the company’s stock traded hands, compared to its average volume of 4,772,487. The stock has a market cap of $574.40 billion, a PE ratio of 47.77, a price-to-earnings-growth ratio of 2.12 and a beta of 0.41. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.19. Novo Nordisk A/S has a 12 month low of $75.56 and a 12 month high of $138.28. The firm’s 50 day simple moving average is $126.92 and its 200-day simple moving average is $112.40.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The company had revenue of $9.51 billion for the quarter, compared to analysts’ expectations of $9.14 billion. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. Equities analysts expect that Novo Nordisk A/S will post 3.32 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 25th were paid a $0.664 dividend. This is a boost from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. This represents a yield of 0.9%. The ex-dividend date of this dividend was Friday, March 22nd. Novo Nordisk A/S’s payout ratio is 49.17%.

Analyst Ratings Changes

NVO has been the subject of a number of analyst reports. Morgan Stanley initiated coverage on Novo Nordisk A/S in a research report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price target for the company. UBS Group assumed coverage on Novo Nordisk A/S in a research report on Tuesday, January 16th. They issued a “neutral” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, April 18th. Finally, BMO Capital Markets assumed coverage on Novo Nordisk A/S in a research report on Friday, April 12th. They set an “outperform” rating and a $163.00 target price for the company. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $133.60.

About Novo Nordisk A/S

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.