Marks Group Wealth Management Inc Boosts Stake in Novo Nordisk A/S (NYSE:NVO)

Marks Group Wealth Management Inc increased its holdings in Novo Nordisk A/S (NYSE:NVO) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,186 shares of the company’s stock after acquiring an additional 308 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Novo Nordisk A/S were worth $1,650,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Creative Planning boosted its stake in Novo Nordisk A/S by 4.7% during the 3rd quarter. Creative Planning now owns 294,799 shares of the company’s stock valued at $35,102,000 after acquiring an additional 13,203 shares during the last quarter. Acorn Creek Capital LLC raised its stake in shares of Novo Nordisk A/S by 7.4% in the 3rd quarter. Acorn Creek Capital LLC now owns 2,299 shares of the company’s stock valued at $274,000 after purchasing an additional 159 shares in the last quarter. Asset Dedication LLC raised its stake in shares of Novo Nordisk A/S by 23.0% in the 3rd quarter. Asset Dedication LLC now owns 2,354 shares of the company’s stock valued at $280,000 after purchasing an additional 440 shares in the last quarter. Opal Wealth Advisors LLC lifted its position in shares of Novo Nordisk A/S by 15.2% during the third quarter. Opal Wealth Advisors LLC now owns 3,171 shares of the company’s stock worth $378,000 after purchasing an additional 418 shares during the last quarter. Finally, Safeguard Financial LLC acquired a new position in Novo Nordisk A/S in the third quarter worth about $330,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NVO. BMO Capital Markets reduced their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a report on Wednesday. They issued an “equal weight” rating for the company. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Trading Down 2.3 %

Shares of NVO stock opened at $81.78 on Thursday. The firm has a market capitalization of $366.99 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 0.96 and a beta of 0.45. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.75 and a current ratio of 0.74. Novo Nordisk A/S has a 1 year low of $78.17 and a 1 year high of $148.15. The stock has a fifty day moving average of $90.45 and a two-hundred day moving average of $110.60.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. As a group, research analysts expect that Novo Nordisk A/S will post 3.86 EPS 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. Investors of record on Monday, March 31st will be issued a dividend of $0.7874 per share. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date is Monday, March 31st. This represents a yield of 1.2%. Novo Nordisk A/S’s payout ratio is presently 21.88%.

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.