Private Advisory Group LLC Purchases 180,442 Shares of Novo Nordisk A/S $NVO

Private Advisory Group LLC boosted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 3,357.7% in the third quarter, Holdings Channel reports. The firm owned 185,816 shares of the company’s stock after purchasing an additional 180,442 shares during the period. Private Advisory Group LLC’s holdings in Novo Nordisk A/S were worth $10,311,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Lockheed Martin Investment Management Co. increased its stake in Novo Nordisk A/S by 179.4% during the 2nd quarter. Lockheed Martin Investment Management Co. now owns 43,450 shares of the company’s stock worth $2,999,000 after purchasing an additional 27,900 shares in the last quarter. Martin Capital Partners LLC boosted its holdings in shares of Novo Nordisk A/S by 53.8% in the third quarter. Martin Capital Partners LLC now owns 117,577 shares of the company’s stock valued at $6,524,000 after buying an additional 41,129 shares during the period. Markel Group Inc. increased its position in shares of Novo Nordisk A/S by 4.9% during the third quarter. Markel Group Inc. now owns 2,368,649 shares of the company’s stock worth $131,436,000 after acquiring an additional 110,061 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in shares of Novo Nordisk A/S during the third quarter worth $1,294,000. Finally, WCM Investment Management LLC lifted its position in Novo Nordisk A/S by 3.7% in the 3rd quarter. WCM Investment Management LLC now owns 2,732,182 shares of the company’s stock valued at $151,636,000 after acquiring an additional 97,477 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Trading Down 2.1%

Shares of Novo Nordisk A/S stock opened at $47.43 on Monday. The firm’s 50-day moving average price is $53.77 and its two-hundred day moving average price is $53.30. The company has a market capitalization of $211.77 billion, a price-to-earnings ratio of 13.67 and a beta of 0.67. The company has a quick ratio of 0.57, a current ratio of 0.80 and a debt-to-equity ratio of 0.61. Novo Nordisk A/S has a 12-month low of $43.08 and a 12-month high of $93.80.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Tuesday, February 3rd. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $11.97 billion. On average, analysts forecast 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 issued a dividend of $1.2751 per share. The ex-dividend date of this dividend is Monday, March 30th. This represents a dividend yield of 541.0%. Novo Nordisk A/S’s payout ratio is 23.63%.

Analysts Set New Price Targets

Several research firms have issued reports on NVO. BMO Capital Markets reissued a “market perform” rating on shares of Novo Nordisk A/S in a research note on Thursday, February 5th. Argus reiterated a “hold” rating on shares of Novo Nordisk A/S in a research note on Monday, December 8th. Morgan Stanley reaffirmed an “underweight” rating and issued a $42.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, December 3rd. TD Cowen reaffirmed a “buy” rating on shares of Novo Nordisk A/S in a research report on Tuesday, February 3rd. Finally, Citigroup assumed coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 27th. They set a “neutral” rating for the company. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of “Hold” and a consensus target price of $56.07.

Novo Nordisk A/S Company 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.