Three Bridge Wealth Advisors LLC Boosts Holdings in Novo Nordisk A/S $NVO

Three Bridge Wealth Advisors LLC raised its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 5.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,950 shares of the company’s stock after acquiring an additional 1,285 shares during the quarter. Three Bridge Wealth Advisors LLC’s holdings in Novo Nordisk A/S were worth $1,722,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Kingstone Capital Partners Texas LLC lifted its stake in Novo Nordisk A/S by 301,443.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock valued at $690,560,000 after buying an additional 10,001,898 shares in the last quarter. Nuveen LLC acquired a new position in shares of Novo Nordisk A/S in the first quarter worth $370,272,000. Amundi raised its holdings in shares of Novo Nordisk A/S by 49.1% in the first quarter. Amundi now owns 4,938,507 shares of the company’s stock worth $331,576,000 after acquiring an additional 1,627,051 shares during the last quarter. Acadian Asset Management LLC increased its position in Novo Nordisk A/S by 15,919.9% during the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock worth $72,523,000 after purchasing an additional 1,038,137 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Novo Nordisk A/S by 118.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,594,544 shares of the company’s stock worth $110,725,000 after purchasing an additional 864,579 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NVO shares. Zacks Research raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Morgan Stanley downgraded shares of Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and reduced their price objective for the company from $59.00 to $47.00 in a research note on Monday, September 29th. Hsbc Global Res raised shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Rothschild & Co Redburn upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 16th. Finally, Sanford C. Bernstein upgraded Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $77.50.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $59.68 on Friday. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $120.56. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. The company has a 50 day moving average price of $54.92 and a 200 day moving average price of $63.73. The firm has a market capitalization of $266.45 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 2.28 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The company had revenue of $11.69 billion during the quarter, compared to analysts’ expectations of $77.51 billion. Sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were issued a $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 22.53%.

Novo Nordisk A/S Company 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.