Gradient Investments LLC grew its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 18.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,313 shares of the company’s stock after buying an additional 7,201 shares during the period. Gradient Investments LLC’s holdings in Novo Nordisk A/S were worth $2,136,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Zions Bancorporation purchased a new position in shares of Novo Nordisk A/S during the 1st quarter valued at about $137,000. Institutional & Family Asset Management LLC purchased a new position in shares of Novo Nordisk A/S during the 1st quarter valued at about $156,000. MV Capital Management Inc. purchased a new position in shares of Novo Nordisk A/S during the 1st quarter valued at about $185,000. Private Capital Group LLC lifted its position in shares of Novo Nordisk A/S by 2,357.1% during the 1st quarter. Private Capital Group LLC now owns 4,005 shares of the company’s stock valued at $200,000 after buying an additional 3,842 shares in the last quarter. Finally, Whittier Trust Co. lifted its position in shares of Novo Nordisk A/S by 61.5% during the 1st quarter. Whittier Trust Co. now owns 4,040 shares of the company’s stock valued at $199,000 after buying an additional 1,538 shares in the last quarter. 6.75% of the stock is currently owned by hedge funds and other institutional investors.

NYSE NVO opened at $48.21 on Tuesday. Novo Nordisk A/S has a 12 month low of $44.28 and a 12 month high of $58.37. The company has a market capitalization of $114.53 billion, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 2.52 and a beta of 0.66.

The firm also recently declared a special dividend, which will be paid on Tuesday, August 28th. Investors of record on Monday, August 20th will be issued a $0.4669 dividend. The ex-dividend date of this dividend is Friday, August 17th. This represents a yield of 1.72%. Novo Nordisk A/S’s dividend payout ratio is presently 38.89%.

A number of research firms have recently weighed in on NVO. Zacks Investment Research raised Novo Nordisk A/S from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Sanford C. Bernstein raised Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research report on Monday, July 2nd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $64.00.

Novo Nordisk A/S Profile

Novo Nordisk A/S, a healthcare company, engages in the discovery, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides insulins, GLP-1 and related delivery systems, and oral anti-diabetic drugs and obesity.

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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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