Fortis Group Advisors LLC Buys New Shares in Novo Nordisk A/S $NVO

Fortis Group Advisors LLC purchased a new position in Novo Nordisk A/S (NYSE:NVO) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,433 shares of the company’s stock, valued at approximately $690,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NVO. W.G. Shaheen & Associates DBA Whitney & Co grew its position in shares of Novo Nordisk A/S by 65.6% during the third quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 238,746 shares of the company’s stock worth $13,248,000 after purchasing an additional 94,598 shares in the last quarter. Glenview Trust Co boosted its stake in Novo Nordisk A/S by 42.3% in the 3rd quarter. Glenview Trust Co now owns 30,328 shares of the company’s stock worth $1,683,000 after purchasing an additional 9,011 shares during the period. Todd Asset Management LLC grew its holdings in Novo Nordisk A/S by 6.3% during the 3rd quarter. Todd Asset Management LLC now owns 61,372 shares of the company’s stock valued at $3,406,000 after buying an additional 3,632 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in Novo Nordisk A/S during the 3rd quarter valued at approximately $6,659,000. Finally, Sierra Ocean LLC lifted its holdings in shares of Novo Nordisk A/S by 11.6% in the third quarter. Sierra Ocean LLC now owns 7,223 shares of the company’s stock worth $401,000 after buying an additional 749 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NVO shares. Argus reaffirmed a “hold” rating on shares of Novo Nordisk A/S in a research note on Monday, December 8th. Jefferies Financial Group upgraded Novo Nordisk A/S from an “underperform” rating to a “hold” rating in a research report on Thursday, February 12th. Morgan Stanley reiterated an “underweight” rating and issued a $42.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, December 3rd. CICC Research assumed coverage on Novo Nordisk A/S in a report on Friday, January 9th. They set an “outperform” rating and a $73.50 price target for the company. Finally, Weiss Ratings raised 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 given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $56.07.

Novo Nordisk A/S Trading Down 0.2%

NVO opened at $49.26 on Thursday. The stock has a 50-day moving average of $53.86 and a 200 day moving average of $53.24. 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 has a 12 month low of $43.08 and a 12 month high of $93.80. The firm has a market cap of $219.94 billion, a P/E ratio of 14.20 and a beta of 0.67.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Tuesday, February 3rd. The company reported $1.01 EPS 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 analysts’ expectations of $11.97 billion. Novo Nordisk A/S had a return on equity of 68.91% and a net margin of 33.03%. As a group, research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Monday, March 30th will be given a dividend of $1.2751 per share. The ex-dividend date is Monday, March 30th. This represents a yield of 541.0%. Novo Nordisk A/S’s payout ratio is 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.