Naviter Wealth LLC Purchases 7,914 Shares of Novo Nordisk A/S (NYSE:NVO)

Naviter Wealth LLC boosted its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 19.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 49,304 shares of the company’s stock after acquiring an additional 7,914 shares during the quarter. Novo Nordisk A/S accounts for approximately 1.0% of Naviter Wealth LLC’s portfolio, making the stock its 22nd largest position. Naviter Wealth LLC’s holdings in Novo Nordisk A/S were worth $5,100,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Choreo LLC boosted its stake in Novo Nordisk A/S by 6.7% in the 4th quarter. Choreo LLC now owns 3,108 shares of the company’s stock valued at $322,000 after purchasing an additional 194 shares during the period. Intellectus Partners LLC grew its position in shares of Novo Nordisk A/S by 11.4% during the 4th quarter. Intellectus Partners LLC now owns 8,270 shares of the company’s stock worth $856,000 after purchasing an additional 848 shares in the last quarter. Stonebrook Private Inc. acquired a new stake in Novo Nordisk A/S during the fourth quarter worth approximately $235,000. Principle Wealth Partners LLC acquired a new position in Novo Nordisk A/S in the 4th quarter valued at $390,000. Finally, Unique Wealth Strategies LLC acquired a new position in Novo Nordisk A/S in the fourth quarter valued at about $595,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO traded up $0.01 during trading on Monday, hitting $126.86. 1,132,939 shares of the company were exchanged, compared to its average volume of 4,753,274. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.19. Novo Nordisk A/S has a 1-year low of $75.56 and a 1-year high of $138.28. The company has a market capitalization of $569.29 billion, a P/E ratio of 46.99, a price-to-earnings-growth ratio of 2.12 and a beta of 0.41. The business’s 50 day moving average is $126.86 and its 200-day moving average is $112.21.

Novo Nordisk A/S (NYSE:NVO) last announced 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 firm had revenue of $9.51 billion during 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%. Equities analysts forecast that Novo Nordisk A/S will post 3.32 earnings per share for the current 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 paid a $0.664 dividend. This is a positive change from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. This represents a dividend yield of 0.9%. The ex-dividend date was Friday, March 22nd. Novo Nordisk A/S’s payout ratio is currently 49.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NVO shares. BMO Capital Markets began coverage on shares of Novo Nordisk A/S in a research note on Friday, April 12th. They set an “outperform” rating and a $163.00 price objective on the stock. 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 target on the stock. UBS Group began coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 16th. They set a “neutral” rating for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday, April 18th. Two 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 company. According to MarketBeat, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and an average target price of $133.60.

About Novo Nordisk A/S

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.