JPL Wealth Management LLC Takes Position in Novo Nordisk A/S (NYSE:NVO)

JPL Wealth Management LLC purchased a new position in Novo Nordisk A/S (NYSE:NVO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,475 shares of the company’s stock, valued at approximately $299,000.

Several other hedge funds have also added to or reduced their stakes in NVO. Daiwa Securities Group Inc. bought a new position in Novo Nordisk A/S in the third quarter valued at about $28,000. Center for Financial Planning Inc. grew its holdings in Novo Nordisk A/S by 72.4% during the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after buying an additional 123 shares in the last quarter. Dunhill Financial LLC grew its holdings in Novo Nordisk A/S by 196.8% during the 3rd quarter. Dunhill Financial LLC now owns 469 shares of the company’s stock valued at $56,000 after buying an additional 311 shares in the last quarter. Albion Financial Group UT grew its holdings in Novo Nordisk A/S by 121.4% during the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after buying an additional 278 shares in the last quarter. Finally, Hager Investment Management Services LLC purchased a new position in shares of Novo Nordisk A/S in the 4th quarter worth approximately $46,000. 11.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

NVO has been the subject of a number of recent research reports. Morgan Stanley initiated coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an “equal weight” rating for the company. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. BMO Capital Markets lowered their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Finally, Stifel Nicolaus cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Trading Down 4.3 %

NVO opened at $74.75 on Thursday. Novo Nordisk A/S has a 52 week low of $73.80 and a 52 week high of $148.15. The business has a fifty day simple moving average of $84.39 and a 200-day simple moving average of $103.83. The firm has a market cap of $335.42 billion, a P/E ratio of 22.72, a P/E/G ratio of 0.90 and a beta of 0.42. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

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

Novo Nordisk A/S Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be given a dividend of $0.7874 per share. The ex-dividend date is Monday, March 31st. This represents a dividend yield of 1.2%. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s payout ratio is 47.72%.

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.