JGP Wealth Management LLC Grows Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

JGP Wealth Management LLC grew its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 18.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,805 shares of the company’s stock after buying an additional 439 shares during the quarter. JGP Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $334,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in NVO. First PREMIER Bank purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at $25,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Novo Nordisk A/S during the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Novo Nordisk A/S during the 2nd quarter valued at $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at $26,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at $26,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NVO shares. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, BMO Capital Markets reduced their target price on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.17.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $120.04 on Friday. Novo Nordisk A/S has a 12 month low of $92.94 and a 12 month high of $148.15. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The firm has a market capitalization of $538.68 billion, a P/E ratio of 41.11, a P/E/G ratio of 1.53 and a beta of 0.42. The company’s fifty day moving average price is $129.39 and its two-hundred day moving average price is $132.00.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. On average, research analysts anticipate that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were given a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s payout ratio is currently 24.66%.

Novo Nordisk A/S Profile

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.