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

by · The Cerbat Gem

JGP Wealth Management LLC grew its position in shares of Novo Nordisk A/S (NYSE:NVO – Free Report) by 18.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,805 shares of the company’s stock after purchasing an additional 439 shares during the quarter. JGP Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $334,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Bank of New Hampshire grew its holdings in shares of Novo Nordisk A/S by 1,356.8% during the first quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock worth $1,702,000 after purchasing an additional 12,347 shares during the last quarter. Cim LLC acquired a new stake in shares of Novo Nordisk A/S during the fourth quarter worth about $23,547,000. Burford Brothers Inc. acquired a new stake in shares of Novo Nordisk A/S during the fourth quarter worth about $1,045,000. Fox Hill Wealth Management boosted its stake in shares of Novo Nordisk A/S by 121.3% during the first quarter. Fox Hill Wealth Management now owns 28,320 shares of the company’s stock worth $3,636,000 after buying an additional 15,525 shares during the period. Finally, Cetera Investment Advisers boosted its stake in shares of Novo Nordisk A/S by 453.3% during the first quarter. Cetera Investment Advisers now owns 265,538 shares of the company’s stock worth $34,095,000 after buying an additional 217,545 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NVO stock opened at $120.04 on Friday. The firm has a 50 day moving average of $129.39 and a 200-day moving average of $132.00. Novo Nordisk A/S has a 12-month low of $92.94 and a 12-month high of $148.15. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The company has a market cap of $538.68 billion, a price-to-earnings ratio of 41.11, a PEG ratio of 1.53 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. As a group, equities analysts expect that Novo Nordisk A/S will post 3.01 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on NVO. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Thursday. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, BMO Capital Markets reduced their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average target price of $145.17.

View Our Latest Research Report on NVO

Novo Nordisk A/S Profile

(Free Report)

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.

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