Stonegate Investment Group LLC Has $3.71 Million Stake in Novo Nordisk A/S (NYSE:NVO)

Stonegate Investment Group LLC raised its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 13.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 28,916 shares of the company’s stock after purchasing an additional 3,536 shares during the quarter. Stonegate Investment Group LLC’s holdings in Novo Nordisk A/S were worth $3,713,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Jennison Associates LLC raised its stake in shares of Novo Nordisk A/S by 100.3% in the third quarter. Jennison Associates LLC now owns 23,419,405 shares of the company’s stock valued at $2,129,761,000 after purchasing an additional 11,727,507 shares in the last quarter. Polen Capital Management LLC acquired a new position in shares of Novo Nordisk A/S in the 3rd quarter valued at $718,995,000. FMR LLC lifted its holdings in shares of Novo Nordisk A/S by 122.7% during the 3rd quarter. FMR LLC now owns 12,077,501 shares of the company’s stock worth $1,098,328,000 after acquiring an additional 6,654,614 shares during the period. Morgan Stanley boosted its position in shares of Novo Nordisk A/S by 96.5% during the 3rd quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock valued at $838,021,000 after acquiring an additional 4,526,199 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in Novo Nordisk A/S by 91.7% in the third quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock valued at $827,354,000 after acquiring an additional 4,350,862 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NVO traded up $1.40 during trading on Tuesday, hitting $128.28. The company’s stock had a trading volume of 7,835,414 shares, compared to its average volume of 4,800,112. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $575.66 billion, a price-to-earnings ratio of 47.42, a price-to-earnings-growth ratio of 2.12 and a beta of 0.41. The firm’s 50 day moving average price is $127.05 and its two-hundred day moving average price is $112.58. Novo Nordisk A/S has a 12 month low of $75.56 and a 12 month high of $138.28.

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

Novo Nordisk A/S Increases Dividend

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

Analysts Set New Price Targets

NVO has been the subject of a number of analyst reports. BMO Capital Markets assumed coverage on shares of Novo Nordisk A/S in a research note on Friday, April 12th. They set an “outperform” rating and a $163.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Thursday, April 18th. Morgan Stanley initiated coverage on Novo Nordisk A/S in a research note on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 price objective for the company. Finally, UBS Group assumed coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 16th. They issued a “neutral” rating on the stock. 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $133.60.

About Novo Nordisk A/S

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.