Stonegate Investment Group LLC Acquires 3,536 Shares of Novo Nordisk A/S (NYSE:NVO)

Stonegate Investment Group LLC boosted its holdings in Novo Nordisk A/S (NYSE:NVO) by 13.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 28,916 shares of the company’s stock after acquiring an additional 3,536 shares during the period. Stonegate Investment Group LLC’s holdings in Novo Nordisk A/S were worth $3,713,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Strategic Financial Concepts LLC bought a new stake in shares of Novo Nordisk A/S in the first quarter valued at approximately $217,000. Confluence Wealth Services Inc. raised its holdings in Novo Nordisk A/S by 31.5% in the 1st quarter. Confluence Wealth Services Inc. now owns 2,688 shares of the company’s stock valued at $345,000 after acquiring an additional 644 shares in the last quarter. American Financial Advisors LLC bought a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at $205,000. Harbour Trust & Investment Management Co grew its holdings in shares of Novo Nordisk A/S by 16.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 68,605 shares of the company’s stock worth $8,809,000 after purchasing an additional 9,594 shares in the last quarter. Finally, PFG Investments LLC increased its position in shares of Novo Nordisk A/S by 120.7% in the first quarter. PFG Investments LLC now owns 31,208 shares of the company’s stock worth $4,007,000 after purchasing an additional 17,065 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Ratings Changes

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

Novo Nordisk A/S Price Performance

Shares of NVO stock traded up $1.40 on Tuesday, reaching $128.28. The company had a trading volume of 7,835,414 shares, compared to its average volume of 4,800,112. The business’s 50-day moving average is $127.05 and its 200 day moving average is $112.58. Novo Nordisk A/S has a one year low of $75.56 and a one year high of $138.28. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $575.66 billion, a PE ratio of 47.42, a price-to-earnings-growth ratio of 2.12 and a beta of 0.41.

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

Novo Nordisk A/S Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 25th were paid a $0.664 dividend. This represents a dividend 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 of this dividend was Friday, March 22nd. Novo Nordisk A/S’s dividend payout ratio is presently 49.17%.

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.