Granite Bay Wealth Management LLC Has $4.01 Million Stake in Novo Nordisk A/S (NYSE:NVO)

Granite Bay Wealth Management LLC lifted its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 180.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,486 shares of the company's stock after buying an additional 26,055 shares during the period. Granite Bay Wealth Management LLC's holdings in Novo Nordisk A/S were worth $4,011,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NVO. Jennison Associates LLC raised its holdings in shares of Novo Nordisk A/S by 100.3% during the third quarter. Jennison Associates LLC now owns 23,419,405 shares of the company's stock worth $2,129,761,000 after acquiring an additional 11,727,507 shares in the last quarter. Polen Capital Management LLC acquired a new stake in Novo Nordisk A/S during the third quarter worth about $718,995,000. FMR LLC grew its position in Novo Nordisk A/S by 122.7% during the third quarter. FMR LLC now owns 12,077,501 shares of the company's stock worth $1,098,328,000 after buying an additional 6,654,614 shares in the last quarter. Morgan Stanley grew its position in Novo Nordisk A/S by 96.5% during the third quarter. Morgan Stanley now owns 9,215,098 shares of the company's stock worth $838,021,000 after buying an additional 4,526,199 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its position in Novo Nordisk A/S by 91.7% during the third quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company's stock worth $827,354,000 after buying an additional 4,350,862 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NVO has been the topic of a number of recent research reports. Cantor Fitzgerald reissued an "overweight" rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, April 1st. UBS Group initiated coverage on Novo Nordisk A/S in a report on Tuesday, January 16th. They set a "neutral" rating on the stock. Morgan Stanley initiated coverage on Novo Nordisk A/S in a report on Tuesday, January 23rd. They set an "overweight" rating and a $120.00 price objective on the stock. Finally, BMO Capital Markets initiated coverage on Novo Nordisk A/S in a report on Friday. They set an "outperform" rating and a $163.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company 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 traded down $0.89 on Friday, hitting $124.51. The company's stock had a trading volume of 3,343,015 shares, compared to its average volume of 3,653,790. The company has a market capitalization of $558.74 billion, a PE ratio of 46.03, a PEG ratio of 2.09 and a beta of 0.41. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.64. Novo Nordisk A/S has a fifty-two week low of $75.56 and a fifty-two week high of $138.28. The company has a 50 day moving average price of $125.93 and a 200 day moving average price of $109.74.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. The business had revenue of $9.51 billion for the quarter, compared to analyst estimates 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, research analysts anticipate that Novo Nordisk A/S will post 3.33 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

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