Geneva Partners LLC Has $6.40 Million Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Geneva Partners LLC raised its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 18.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,857 shares of the company’s stock after acquiring an additional 9,851 shares during the quarter. Novo Nordisk A/S makes up approximately 3.5% of Geneva Partners LLC’s holdings, making the stock its 9th biggest position. Geneva Partners LLC’s holdings in Novo Nordisk A/S were worth $6,399,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NVO. Wetzel Investment Advisors Inc. acquired a new stake in Novo Nordisk A/S during the 4th quarter valued at $112,000. Institute for Wealth Management LLC. lifted its holdings in Novo Nordisk A/S by 3.9% during the 4th quarter. Institute for Wealth Management LLC. now owns 12,668 shares of the company’s stock valued at $1,311,000 after purchasing an additional 474 shares during the last quarter. Knights of Columbus Asset Advisors LLC lifted its holdings in Novo Nordisk A/S by 99.8% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 2,142 shares of the company’s stock valued at $222,000 after purchasing an additional 1,070 shares during the last quarter. Cambridge Trust Co. lifted its holdings in Novo Nordisk A/S by 0.5% during the 4th quarter. Cambridge Trust Co. now owns 100,857 shares of the company’s stock valued at $10,434,000 after purchasing an additional 525 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group lifted its holdings in Novo Nordisk A/S by 69.2% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 12,091 shares of the company’s stock valued at $1,251,000 after purchasing an additional 4,945 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NVO. BMO Capital Markets began coverage on Novo Nordisk A/S in a report on Friday, April 12th. They set an “outperform” rating and a $163.00 price target for the company. Morgan Stanley started coverage on Novo Nordisk A/S in a report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 target price for the company. UBS Group started coverage on Novo Nordisk A/S in a report on Tuesday, January 16th. They set a “neutral” rating for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $133.60.

Novo Nordisk A/S Price Performance

NVO stock traded down $0.05 during midday trading on Friday, reaching $122.70. The company had a trading volume of 5,181,119 shares, compared to its average volume of 4,882,816. The company has a market capitalization of $550.62 billion, a price-to-earnings ratio of 45.36, a price-to-earnings-growth ratio of 2.08 and a beta of 0.41. The stock has a 50 day moving average price of $126.39 and a 200-day moving average price of $110.72. Novo Nordisk A/S has a 1-year low of $75.56 and a 1-year high of $138.28. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.64.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The business had revenue of $9.51 billion during the quarter, compared to the consensus estimate of $9.14 billion. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. Equities research analysts expect that Novo Nordisk A/S will post 3.32 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 25th were paid a $0.664 dividend. This represents a yield of 0.9%. The ex-dividend date was Friday, March 22nd. This is an increase from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. Novo Nordisk A/S’s payout ratio is 49.17%.

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.