NewEdge Wealth LLC Acquires 37,670 Shares of Novo Nordisk A/S $NVO

NewEdge Wealth LLC grew its holdings in Novo Nordisk A/S (NYSE:NVO) by 109.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,242 shares of the company’s stock after acquiring an additional 37,670 shares during the period. NewEdge Wealth LLC’s holdings in Novo Nordisk A/S were worth $4,009,000 as of its most recent SEC filing.

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

Novo Nordisk A/S Trading Down 2.1%

Novo Nordisk A/S stock opened at $47.43 on Friday. The stock has a market cap of $211.77 billion, a P/E ratio of 13.67 and a beta of 0.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.80 and a quick ratio of 0.57. Novo Nordisk A/S has a 1 year low of $43.08 and a 1 year high of $93.80. The firm’s 50 day moving average price is $53.77 and its 200-day moving average price is $53.20.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Tuesday, February 3rd. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $11.97 billion. Novo Nordisk A/S had a net margin of 33.03% and a return on equity of 68.91%. On average, equities analysts predict 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 disclosed a dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Monday, March 30th will be issued a dividend of $1.2751 per share. 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 23.63%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. 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. Argus reaffirmed a “hold” rating on shares of Novo Nordisk A/S in a report on Monday, December 8th. HSBC reiterated a “hold” rating and issued a $54.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, December 10th. CICC Research initiated coverage on shares of Novo Nordisk A/S in a research report on Friday, January 9th. They set an “outperform” rating and a $73.50 price objective on the stock. Finally, Morgan Stanley restated an “underweight” rating and set a $42.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, December 3rd. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $56.07.

About Novo Nordisk A/S

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.