Fortis Group Advisors LLC Buys Shares of 12,433 Novo Nordisk A/S $NVO

Fortis Group Advisors LLC bought a new stake in shares of Novo Nordisk A/S (NYSE:NVO) during the third quarter, HoldingsChannel.com reports. The fund bought 12,433 shares of the company’s stock, valued at approximately $690,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. True Wealth Design LLC increased its stake in Novo Nordisk A/S by 209.8% in the third quarter. True Wealth Design LLC now owns 443 shares of the company’s stock worth $25,000 after purchasing an additional 300 shares during the period. NewSquare Capital LLC grew its holdings in shares of Novo Nordisk A/S by 174.1% in the second quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock worth $31,000 after purchasing an additional 282 shares during the last quarter. Guerra Advisors Inc purchased a new position in Novo Nordisk A/S in the 3rd quarter worth about $25,000. Strengthening Families & Communities LLC bought a new stake in Novo Nordisk A/S during the 3rd quarter valued at about $30,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in Novo Nordisk A/S in the 3rd quarter valued at about $39,000. 11.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. TD Cowen reaffirmed a “buy” rating on shares of Novo Nordisk A/S in a research note on Tuesday, February 3rd. Jefferies Financial Group raised Novo Nordisk A/S from an “underperform” rating to a “hold” rating in a research report on Thursday, February 12th. Morgan Stanley reiterated an “underweight” rating and issued a $42.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, December 3rd. Weiss Ratings upgraded Novo Nordisk A/S from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, February 5th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Novo Nordisk A/S in a report on Thursday, February 5th. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $56.07.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $49.26 on Thursday. Novo Nordisk A/S has a 12-month low of $43.08 and a 12-month high of $93.80. The business’s fifty day simple moving average is $53.86 and its 200-day simple moving average is $53.24. 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 $219.94 billion, a PE ratio of 14.20 and a beta of 0.67.

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

Novo Nordisk A/S Announces Dividend

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

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.