Princeton Capital Management Inc. boosted its position in Novo Nordisk A/S (NYSE:NVO) by 26.0% during the second quarter, Holdings Channel reports. The fund owned 56,944 shares of the company’s stock after buying an additional 11,733 shares during the period. Novo Nordisk A/S comprises approximately 2.1% of Princeton Capital Management Inc.’s portfolio, making the stock its 20th largest position. Princeton Capital Management Inc.’s holdings in Novo Nordisk A/S were worth $3,062,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Cape ANN Savings Bank increased its stake in shares of Novo Nordisk A/S by 1.1% in the second quarter. Cape ANN Savings Bank now owns 4,748 shares of the company’s stock valued at $255,000 after buying an additional 50 shares in the last quarter. Martin Investment Management LLC increased its stake in shares of Novo Nordisk A/S by 1.7% in the second quarter. Martin Investment Management LLC now owns 4,895 shares of the company’s stock valued at $263,000 after buying an additional 80 shares in the last quarter. Financial Architects Inc increased its stake in shares of Novo Nordisk A/S by 1.6% in the second quarter. Financial Architects Inc now owns 6,954 shares of the company’s stock valued at $374,000 after buying an additional 111 shares in the last quarter. Washington Trust Bank increased its stake in shares of Novo Nordisk A/S by 3.7% in the second quarter. Washington Trust Bank now owns 3,400 shares of the company’s stock valued at $183,000 after buying an additional 120 shares in the last quarter. Finally, Burns J W & Co. Inc. NY increased its stake in shares of Novo Nordisk A/S by 0.6% in the second quarter. Burns J W & Co. Inc. NY now owns 49,898 shares of the company’s stock valued at $2,684,000 after buying an additional 280 shares in the last quarter. Institutional investors and hedge funds own 7.33% of the company’s stock.

Shares of Novo Nordisk A/S (NYSE:NVO) traded up 1.09% during trading on Tuesday, hitting $46.23. 3,158,295 shares of the stock traded hands. The firm has a 50 day moving average price of $47.40 and a 200-day moving average price of $53.09. Novo Nordisk A/S has a one year low of $44.04 and a one year high of $59.00. The company has a market cap of $117.25 billion, a PE ratio of 21.72 and a beta of 0.74.

The firm also recently disclosed a dividend, which was paid on Tuesday, August 23rd. Investors of record on Monday, August 15th were paid a $0.326 dividend. The ex-dividend date was Thursday, August 11th. Novo Nordisk A/S’s payout ratio is presently 48.82%.

Several analysts recently issued reports on the company. Bank of America Corp. set a $57.00 price target on Novo Nordisk A/S and gave the company a “hold” rating in a report on Saturday. Citigroup Inc. reiterated a “buy” rating on shares of Novo Nordisk A/S in a report on Wednesday, August 3rd. Zacks Investment Research upgraded Novo Nordisk A/S from a “sell” rating to a “hold” rating in a report on Monday, July 11th. Goldman Sachs Group Inc. downgraded Novo Nordisk A/S from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, June 28th. Finally, Pacific Crest upgraded Novo Nordisk A/S from a “neutral” rating to an “outperform” rating in a research note on Tuesday, September 13th. Six investment 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 company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $61.33.

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.

5 Day Chart for NYSE:NVO

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