Sagespring Wealth Partners LLC Invests $1.66 Million in Novo Nordisk A/S (NYSE:NVO)

Sagespring Wealth Partners LLC acquired a new stake in Novo Nordisk A/S (NYSE:NVO) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 19,344 shares of the company’s stock, valued at approximately $1,664,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NVO. GQG Partners LLC raised its position in Novo Nordisk A/S by 74.7% in the 4th quarter. GQG Partners LLC now owns 12,994,533 shares of the company’s stock valued at $1,117,790,000 after purchasing an additional 5,556,460 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Novo Nordisk A/S in the fourth quarter worth approximately $404,910,000. Loomis Sayles & Co. L P grew its holdings in Novo Nordisk A/S by 34.2% during the 4th quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company’s stock worth $995,397,000 after acquiring an additional 2,947,771 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Novo Nordisk A/S by 59.8% in the 4th quarter. Clearbridge Investments LLC now owns 4,283,317 shares of the company’s stock valued at $368,451,000 after purchasing an additional 1,602,549 shares during the last quarter. Finally, Sustainable Growth Advisers LP raised its holdings in shares of Novo Nordisk A/S by 23.6% in the 4th quarter. Sustainable Growth Advisers LP now owns 5,340,803 shares of the company’s stock valued at $459,416,000 after purchasing an additional 1,021,498 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 7th. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. BMO Capital Markets dropped their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Kepler Capital Markets upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Finally, Stifel Nicolaus lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Three research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.25.

Novo Nordisk A/S Stock Up 5.8 %

Shares of NYSE NVO opened at $64.76 on Monday. The stock has a market cap of $290.59 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 0.90 and a beta of 0.61. Novo Nordisk A/S has a 52-week low of $59.32 and a 52-week high of $148.15. The business has a 50-day moving average price of $77.87 and a 200 day moving average price of $93.34. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. Equities research analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st were paid a $0.7874 dividend. The ex-dividend date of this dividend was Monday, March 31st. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a yield of 1.2%. Novo Nordisk A/S’s payout ratio is currently 49.54%.

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.