Princeton Capital Management Inc. Buys 11,733 Shares of Novo Nordisk A/S (NVO)
Princeton Capital Management Inc. increased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 26.0% during the second quarter, Holdings Channel reports. The firm owned 56,944 shares of the company’s stock after buying an additional 11,733 shares during the period. Novo Nordisk A/S accounts for 2.1% of Princeton Capital Management Inc.’s investment portfolio, making the stock its 20th largest position. Princeton Capital Management Inc.’s holdings in Novo Nordisk A/S were worth $3,062,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVO. Cribstone Capital Management LLC bought a new position in Novo Nordisk A/S during the second quarter worth about $159,000. Washington Trust Bank raised its position in Novo Nordisk A/S by 3.7% in the second quarter. Washington Trust Bank now owns 3,400 shares of the company’s stock worth $183,000 after buying an additional 120 shares during the period. Park National Corp OH bought a new position in Novo Nordisk A/S during the second quarter worth about $208,000. Telemus Capital LLC bought a new position in Novo Nordisk A/S during the second quarter worth about $234,000. Finally, Cullinan Associates Inc. bought a new position in Novo Nordisk A/S during the first quarter worth about $244,000. Hedge funds and other institutional investors own 7.33% of the company’s stock.
Novo Nordisk A/S (NYSE:NVO) traded up 1.09% during mid-day trading on Tuesday, hitting $46.23. The stock had a trading volume of 3,158,295 shares. Novo Nordisk A/S has a 12-month low of $44.04 and a 12-month high of $59.00. The firm has a market cap of $117.25 billion, a PE ratio of 21.72 and a beta of 0.74. The company has a 50-day moving average of $47.40 and a 200-day moving average of $53.09.
The company also recently disclosed a dividend, which was paid on Tuesday, August 23rd. Stockholders of record on Monday, August 15th were issued a dividend of $0.326 per share. The ex-dividend date of this dividend was Thursday, August 11th. Novo Nordisk A/S’s payout ratio is 48.82%.
NVO has been the subject of a number of recent research reports. Deutsche Bank AG upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Monday, September 12th. Goldman Sachs Group Inc. lowered Novo Nordisk A/S from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, June 28th. Citigroup Inc. reaffirmed a “buy” rating on shares of Novo Nordisk A/S in a report on Wednesday, August 3rd. Morgan Stanley downgraded Novo Nordisk A/S from an “overweight” rating to an “equal weight” rating in a report on Thursday, September 1st. Finally, Zacks Investment Research raised Novo Nordisk A/S from a “sell” rating to a “hold” rating in a report on Tuesday, September 13th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $61.33.
Novo Nordisk A/S Company Profile
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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