Ritholtz Wealth Management Has $3.29 Million Stock Position in Novo Nordisk A/S (NYSE:NVO)

Ritholtz Wealth Management raised its position in shares of Novo Nordisk A/S (NYSE:NVOGet Rating) by 19.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,492 shares of the company’s stock after acquiring an additional 4,814 shares during the period. Ritholtz Wealth Management’s holdings in Novo Nordisk A/S were worth $3,286,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Jennison Associates LLC boosted its position in shares of Novo Nordisk A/S by 731.0% during the 1st quarter. Jennison Associates LLC now owns 5,527,477 shares of the company’s stock worth $613,826,000 after purchasing an additional 4,862,299 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Novo Nordisk A/S by 45.4% during the 1st quarter. BlackRock Inc. now owns 5,035,879 shares of the company’s stock worth $559,235,000 after acquiring an additional 1,571,747 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of Novo Nordisk A/S in the first quarter valued at about $60,695,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Novo Nordisk A/S in the fourth quarter valued at about $58,800,000. Finally, Vantage Investment Partners LLC purchased a new position in shares of Novo Nordisk A/S during the first quarter valued at about $54,316,000. 6.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NVO has been the topic of several analyst reports. Exane BNP Paribas upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a 750.00 target price on the stock in a research note on Monday, June 27th. BNP Paribas raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $750.00 price objective for the company in a research note on Monday, June 27th. Guggenheim upgraded shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 31st. UBS Group lowered shares of Novo Nordisk A/S from a “neutral” rating to a “sell” rating in a report on Tuesday, June 28th. Finally, Morgan Stanley raised shares of Novo Nordisk A/S from an “equal weight” rating to an “overweight” rating in a research note on Friday, July 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $682.43.

Novo Nordisk A/S Stock Down 0.5 %

Shares of NVO stock traded down $0.50 during trading hours on Friday, reaching $97.81. 21,950 shares of the stock were exchanged, compared to its average volume of 1,677,768. The business’s fifty day moving average is $107.60 and its two-hundred day moving average is $109.28. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.94 and a quick ratio of 0.74. Novo Nordisk A/S has a 12-month low of $91.51 and a 12-month high of $122.16. The firm has a market capitalization of $221.34 billion, a P/E ratio of 29.35, a P/E/G ratio of 1.77 and a beta of 0.47.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, August 23rd. Shareholders of record on Monday, August 15th were paid a $0.5836 dividend. The ex-dividend date of this dividend was Friday, August 12th. This represents a yield of 1.1%. Novo Nordisk A/S’s dividend payout ratio is currently 24.18%.

About Novo Nordisk A/S

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Novo Nordisk A/S, a healthcare company, engages in the research, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes and Obesity care, and Biopharm. The Diabetes and Obesity care segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral antidiabetic products, obesity, and other chronic diseases.

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

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