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

W.G. Shaheen & Associates DBA Whitney & Co raised its position in Novo Nordisk A/S (NYSE:NVO) by 65.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 238,746 shares of the company’s stock after purchasing an additional 94,598 shares during the period. Novo Nordisk A/S makes up about 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.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC raised its stake in Novo Nordisk A/S by 209.8% during the 3rd quarter. True Wealth Design LLC now owns 443 shares of the company’s stock worth $25,000 after buying an additional 300 shares during the period. Guerra Advisors Inc acquired a new position in Novo Nordisk A/S in the third quarter valued at about $25,000. Strengthening Families & Communities LLC bought a new stake in shares of Novo Nordisk A/S in the third quarter worth about $30,000. NewSquare Capital LLC raised its position in shares of Novo Nordisk A/S by 174.1% during 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 period. Finally, Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Novo Nordisk A/S during the second quarter worth about $37,000. 11.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NVO has been the subject of a number of research reports. CICC Research started coverage on Novo Nordisk A/S in a research note on Friday, January 9th. They set an “outperform” rating and a $73.50 target price for the company. Citigroup began coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 27th. They issued a “neutral” rating for the company. 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. Weiss Ratings raised shares of Novo Nordisk A/S from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, February 5th. Finally, Jefferies Financial Group upgraded Novo Nordisk A/S from an “underperform” rating to a “hold” rating in a report on Thursday. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $56.07.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $49.59 on Tuesday. The stock has a market capitalization of $221.43 billion, a price-to-earnings ratio of 14.29 and a beta of 0.67. Novo Nordisk A/S has a 12 month low of $43.08 and a 12 month high of $93.80. The firm has a fifty day simple moving average of $53.80 and a 200 day simple moving average of $53.26. The company has a current ratio of 0.80, a quick ratio of 0.57 and a debt-to-equity ratio of 0.61.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $11.97 billion. Novo Nordisk A/S had a net margin of 33.03% and a return on equity of 68.91%. Research analysts forecast that Novo Nordisk A/S will post 3.84 EPS 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. Shareholders of record on Monday, March 30th will be paid a $1.2751 dividend. This represents a yield of 541.0%. The ex-dividend date is Monday, March 30th. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 23.63%.

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.