Naviter Wealth LLC Raises Holdings in Novo Nordisk A/S (NYSE:NVO)

Naviter Wealth LLC boosted its stake in Novo Nordisk A/S (NYSE:NVO) by 19.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,304 shares of the company’s stock after buying an additional 7,914 shares during the quarter. Novo Nordisk A/S makes up about 1.0% of Naviter Wealth LLC’s holdings, making the stock its 22nd biggest position. Naviter Wealth LLC’s holdings in Novo Nordisk A/S were worth $5,100,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Westside Investment Management Inc. lifted its stake in shares of Novo Nordisk A/S by 83.3% during the 3rd quarter. Westside Investment Management Inc. now owns 1,428 shares of the company’s stock worth $130,000 after purchasing an additional 649 shares during the period. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD acquired a new stake in Novo Nordisk A/S in the 3rd quarter worth about $2,408,000. Lazard Asset Management LLC grew its holdings in Novo Nordisk A/S by 182.2% in the 3rd quarter. Lazard Asset Management LLC now owns 1,494,214 shares of the company’s stock valued at $135,883,000 after buying an additional 964,640 shares during the period. CENTRAL TRUST Co increased its stake in shares of Novo Nordisk A/S by 111.6% during the 3rd quarter. CENTRAL TRUST Co now owns 6,004 shares of the company’s stock valued at $546,000 after acquiring an additional 3,166 shares during the last quarter. Finally, Ieq Capital LLC boosted its position in shares of Novo Nordisk A/S by 136.6% in the third quarter. Ieq Capital LLC now owns 27,474 shares of the company’s stock worth $2,498,000 after acquiring an additional 15,860 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock traded up $0.01 on Monday, hitting $126.86. The company had a trading volume of 1,132,939 shares, compared to its average volume of 4,753,274. Novo Nordisk A/S has a 52 week low of $75.56 and a 52 week high of $138.28. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.64. The company has a market cap of $569.29 billion, a PE ratio of 46.99, a PEG ratio of 2.12 and a beta of 0.41. The business has a 50-day simple moving average of $126.86 and a 200-day simple moving average of $112.21.

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

Novo Nordisk A/S Increases Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 25th were issued a dividend of $0.664 per share. This represents a yield of 0.9%. This is a boost from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. The ex-dividend date was Friday, March 22nd. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 49.17%.

Analyst Ratings Changes

A number of equities analysts have weighed in on NVO shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Thursday, April 18th. BMO Capital Markets assumed coverage on Novo Nordisk A/S in a research note on Friday, April 12th. They set an “outperform” rating and a $163.00 target price for the company. UBS Group initiated coverage on Novo Nordisk A/S in a research report on Tuesday, January 16th. They issued a “neutral” rating for the company. Finally, Morgan Stanley assumed coverage on Novo Nordisk A/S in a report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 target price for the company. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.