W.G. Shaheen & Associates DBA Whitney & Co Has $13.25 Million Stake in Novo Nordisk A/S $NVO

W.G. Shaheen & Associates DBA Whitney & Co boosted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 65.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,746 shares of the company’s stock after acquiring an additional 94,598 shares during the quarter. Novo Nordisk A/S accounts for approximately 1.2% of W.G. Shaheen & Associates DBA Whitney & Co’s investment portfolio, making the stock its 26th biggest holding. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Novo Nordisk A/S were worth $13,248,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC increased its stake in shares of Novo Nordisk A/S by 2,101.5% during the 3rd quarter. SG Americas Securities LLC now owns 2,383,176 shares of the company’s stock worth $132,242,000 after purchasing an additional 2,274,925 shares during the last quarter. Bank of Montreal Can grew its holdings in Novo Nordisk A/S by 101.4% during the second quarter. Bank of Montreal Can now owns 2,475,300 shares of the company’s stock worth $170,845,000 after purchasing an additional 1,246,467 shares during the period. DAVENPORT & Co LLC increased its position in Novo Nordisk A/S by 54.8% during the third quarter. DAVENPORT & Co LLC now owns 2,642,498 shares of the company’s stock worth $146,644,000 after buying an additional 935,468 shares during the last quarter. Sustainable Growth Advisers LP raised its stake in Novo Nordisk A/S by 11.7% in the second quarter. Sustainable Growth Advisers LP now owns 6,192,636 shares of the company’s stock valued at $427,416,000 after buying an additional 649,390 shares during the period. Finally, Baird Financial Group Inc. lifted its position in shares of Novo Nordisk A/S by 42.6% in the second quarter. Baird Financial Group Inc. now owns 1,476,673 shares of the company’s stock valued at $101,920,000 after buying an additional 441,034 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Up 1.4%

NYSE NVO opened at $49.59 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.57 and a debt-to-equity ratio of 0.61. The company has a market cap of $221.43 billion, a price-to-earnings ratio of 14.29 and a beta of 0.67. The company has a 50 day moving average of $53.80 and a 200-day moving average of $53.26. Novo Nordisk A/S has a 1-year low of $43.08 and a 1-year high of $93.80.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $12.43 billion for the quarter, compared to analyst estimates of $11.97 billion. Novo Nordisk A/S had a return on equity of 68.91% and a net margin of 33.03%. On average, equities research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Dividend Announcement

The business also recently declared a dividend, which will be paid on Wednesday, April 8th. Investors of record on Monday, March 30th will be given a $1.2751 dividend. The ex-dividend date is Monday, March 30th. This represents a dividend yield of 541.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 23.63%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NVO shares. Zacks Research lowered shares of Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. Citigroup assumed coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 27th. They issued a “neutral” rating on the stock. Morgan Stanley restated an “underweight” rating and set a $42.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, December 3rd. Argus reaffirmed a “hold” rating on shares of Novo Nordisk A/S in a research report on Monday, December 8th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Novo Nordisk A/S in a report on Thursday, January 22nd. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S presently has an average rating of “Hold” and an average price target of $56.07.

Novo Nordisk A/S Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.