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

NewEdge Wealth LLC grew its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 109.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,242 shares of the company’s stock after purchasing 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.

Several other hedge funds and other institutional investors also recently modified their holdings of NVO. True Wealth Design LLC lifted its holdings 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 buying an additional 300 shares during the period. Guerra Advisors Inc purchased a new position in shares of Novo Nordisk A/S during the 3rd quarter worth approximately $25,000. Strengthening Families & Communities LLC bought a new position in shares of Novo Nordisk A/S in the 3rd quarter worth approximately $30,000. NewSquare Capital LLC lifted its stake in shares of Novo Nordisk A/S by 174.1% in the 2nd 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. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in shares of Novo Nordisk A/S in the 3rd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Morgan Stanley reaffirmed an “underweight” rating and issued a $42.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, December 3rd. HSBC restated a “hold” rating and set a $54.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, December 10th. The Goldman Sachs Group reiterated a “buy” rating on shares of Novo Nordisk A/S in a research note on Thursday, January 22nd. Citigroup started coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 27th. They set a “neutral” rating for the company. Finally, 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. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Hold” and a consensus price target of $56.07.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $47.43 on Friday. Novo Nordisk A/S has a 1-year low of $43.08 and a 1-year high of $93.80. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.80 and a quick ratio of 0.57. The business has a fifty day moving average price of $53.77 and a 200-day moving average price of $53.20. The company has a market capitalization of $211.77 billion, a PE ratio of 13.67 and a beta of 0.67.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The company 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%. As a group, equities analysts expect that Novo Nordisk A/S will post 3.84 EPS 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. Shareholders of record on Monday, March 30th will be issued a $1.2751 dividend. The ex-dividend date of this dividend is Monday, March 30th. This represents a yield of 541.0%. Novo Nordisk A/S’s dividend payout ratio is currently 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.