Centricity Wealth Management LLC Acquires New Position in Novo Nordisk A/S (NYSE:NVO)

Centricity Wealth Management LLC bought a new position in shares of Novo Nordisk A/S (NYSE:NVO) in the fourth quarter, Holdings Channel reports. The firm bought 2,068 shares of the company’s stock, valued at approximately $178,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Stanley Laman Group Ltd. bought a new stake in Novo Nordisk A/S in the third quarter valued at about $282,000. Weaver Capital Management LLC increased its stake in shares of Novo Nordisk A/S by 15.3% in the 3rd quarter. Weaver Capital Management LLC now owns 2,298 shares of the company’s stock valued at $274,000 after acquiring an additional 305 shares during the last quarter. MFA Wealth Advisors LLC raised its position in shares of Novo Nordisk A/S by 184.4% in the 3rd quarter. MFA Wealth Advisors LLC now owns 728 shares of the company’s stock valued at $87,000 after acquiring an additional 472 shares during the period. International Assets Investment Management LLC boosted its stake in Novo Nordisk A/S by 10,608.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after acquiring an additional 1,796,635 shares during the last quarter. Finally, YHB Investment Advisors Inc. grew its holdings in Novo Nordisk A/S by 11.3% during the third quarter. YHB Investment Advisors Inc. now owns 3,284 shares of the company’s stock valued at $391,000 after purchasing an additional 334 shares during the period. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Up 0.5 %

NYSE:NVO opened at $83.79 on Friday. The stock has a 50-day simple moving average of $86.39 and a 200 day simple moving average of $108.48. Novo Nordisk A/S has a 52-week low of $77.82 and a 52-week high of $148.15. The company has a market cap of $376.02 billion, a PE ratio of 25.47, a PEG ratio of 0.90 and a beta of 0.45. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. On average, sell-side analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be paid a $0.7874 dividend. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a yield of 1.2%. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S’s payout ratio is presently 21.88%.

Wall Street Analyst Weigh In

NVO has been the topic of several analyst reports. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Morgan Stanley began coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They set an “equal weight” rating on the stock. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. BMO Capital Markets dropped their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Finally, UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Company 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.