Meritage Portfolio Management raised its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 249,059 shares of the company's stock after purchasing an additional 16,159 shares during the period. Novo Nordisk A/S accounts for 1.7% of Meritage Portfolio Management's portfolio, making the stock its 5th largest position. Meritage Portfolio Management's holdings in Novo Nordisk A/S were worth $25,765,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Westside Investment Management Inc. grew its holdings in shares of Novo Nordisk A/S by 83.3% during the third quarter. Westside Investment Management Inc. now owns 1,428 shares of the company's stock valued at $130,000 after buying an additional 649 shares during the last quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD purchased a new stake in shares of Novo Nordisk A/S during the third quarter valued at approximately $2,408,000. Lazard Asset Management LLC grew its holdings in shares of Novo Nordisk A/S by 182.2% during the third quarter. Lazard Asset Management LLC now owns 1,494,214 shares of the company's stock valued at $135,883,000 after buying an additional 964,640 shares during the last quarter. Benedict Financial Advisors Inc. grew its holdings in shares of Novo Nordisk A/S by 94.0% during the third quarter. Benedict Financial Advisors Inc. now owns 44,292 shares of the company's stock valued at $4,028,000 after buying an additional 21,457 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its holdings in Novo Nordisk A/S by 111.6% in the third quarter. CENTRAL TRUST Co now owns 6,004 shares of the company's stock worth $546,000 after purchasing an additional 3,166 shares during the last quarter. Institutional investors own 11.54% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on NVO. Cantor Fitzgerald restated an "overweight" rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday, April 18th. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 23rd. They issued an "overweight" rating and a $120.00 target price on the stock. BMO Capital Markets began coverage on shares of Novo Nordisk A/S in a report on Friday, April 12th. They issued an "outperform" rating and a $163.00 target price on the stock. Finally, UBS Group began coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 16th. They issued a "neutral" rating on the stock. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $133.60.
Get Our Latest Report on NVO
Novo Nordisk A/S Stock Performance
Shares of Novo Nordisk A/S stock traded up $1.07 on Friday, hitting $126.86. 3,310,701 shares of the company's stock were exchanged, compared to its average volume of 4,797,428. The company has a 50-day simple moving average of $126.86 and a 200-day simple moving average of $111.98. The stock has a market capitalization of $569.29 billion, a PE ratio of 46.99, a PEG ratio of 2.11 and a beta of 0.41. Novo Nordisk A/S has a 1 year low of $75.56 and a 1 year high of $138.28. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.64 and a current ratio of 0.82.
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 for the quarter, topping the consensus estimate of $0.66 by $0.05. The business had revenue of $9.51 billion for the quarter, compared to analysts' expectations of $9.14 billion. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. As a group, equities analysts anticipate that Novo Nordisk A/S will post 3.32 EPS for the current year.
Novo Nordisk A/S Increases Dividend
The company also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 25th were given a dividend of $0.664 per share. This represents a dividend yield of 0.9%. This is an increase 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 (DPR) is presently 48.89%.
About Novo Nordisk A/S
(
Free Report)
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.
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