Stonebrook Private Inc. Makes New Investment in Novo Nordisk A/S (NYSE:NVO)

Stonebrook Private Inc. purchased a new stake in Novo Nordisk A/S (NYSE:NVO) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 2,269 shares of the company’s stock, valued at approximately $235,000.

A number of other hedge funds have also modified their holdings of the business. Clarius Group LLC boosted its stake in Novo Nordisk A/S by 0.5% during the fourth quarter. Clarius Group LLC now owns 18,505 shares of the company’s stock worth $1,914,000 after buying an additional 93 shares during the period. Tradewinds Capital Management LLC lifted its holdings in shares of Novo Nordisk A/S by 2.0% in the 4th quarter. Tradewinds Capital Management LLC now owns 4,955 shares of the company’s stock worth $513,000 after acquiring an additional 95 shares during the last quarter. Relyea Zuckerberg Hanson LLC boosted its position in shares of Novo Nordisk A/S by 3.2% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 3,159 shares of the company’s stock worth $327,000 after purchasing an additional 99 shares during the period. Fort Washington Investment Advisors Inc. OH increased its holdings in Novo Nordisk A/S by 3.5% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 2,960 shares of the company’s stock valued at $306,000 after purchasing an additional 100 shares during the last quarter. Finally, Highlander Capital Management LLC raised its position in Novo Nordisk A/S by 0.4% in the fourth quarter. Highlander Capital Management LLC now owns 25,100 shares of the company’s stock valued at $2,597,000 after purchasing an additional 100 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NVO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Thursday, April 18th. BMO Capital Markets initiated coverage on Novo Nordisk A/S in a research report on Friday, April 12th. They issued an “outperform” rating and a $163.00 target price for the company. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 price target on the stock. Finally, UBS Group started coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 16th. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and a consensus target price of $133.60.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $126.92 on Tuesday. Novo Nordisk A/S has a 1 year low of $75.56 and a 1 year high of $138.28. The stock has a market capitalization of $569.56 billion, a PE ratio of 46.92, a PEG ratio of 2.12 and a beta of 0.41. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.64 and a current ratio of 0.82. The stock has a 50-day simple moving average of $126.92 and a 200-day simple moving average of $112.40.

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

Novo Nordisk A/S Increases Dividend

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

Novo Nordisk A/S 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.