Pinnacle Financial Partners Inc Takes $365,000 Position in Novo Nordisk A/S (NYSE:NVO)

Pinnacle Financial Partners Inc bought a new stake in shares of Novo Nordisk A/S (NYSE:NVOFree Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,524 shares of the company’s stock, valued at approximately $365,000.

Several other large investors also recently modified their holdings of the business. Financial Management Network Inc. acquired a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at about $402,000. Prio Wealth Limited Partnership grew its stake in shares of Novo Nordisk A/S by 160.9% during the fourth quarter. Prio Wealth Limited Partnership now owns 98,648 shares of the company’s stock valued at $10,205,000 after acquiring an additional 60,832 shares in the last quarter. Sigma Investment Counselors Inc. acquired a new position in Novo Nordisk A/S in the fourth quarter worth about $210,000. Essex Savings Bank grew its stake in Novo Nordisk A/S by 12.6% in the fourth quarter. Essex Savings Bank now owns 8,430 shares of the company’s stock worth $872,000 after purchasing an additional 946 shares in the last quarter. Finally, Zimmermann Investment Management & Planning LLC grew its stake in Novo Nordisk A/S by 34.3% in the fourth quarter. Zimmermann Investment Management & Planning LLC now owns 3,528 shares of the company’s stock worth $365,000 after purchasing an additional 901 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. UBS Group assumed coverage on Novo Nordisk A/S in a research note on Tuesday, January 16th. They issued a “neutral” rating for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Monday. Finally, Morgan Stanley assumed coverage on Novo Nordisk A/S in a research note on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price target for the company. Two 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 stock. According to data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and a consensus price target of $126.25.

Check Out Our Latest Research Report on Novo Nordisk A/S

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $126.99 on Thursday. 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 business has a 50 day moving average of $123.91 and a two-hundred day moving average of $107.14. Novo Nordisk A/S has a 52 week low of $75.56 and a 52 week high of $138.28. The company has a market cap of $569.87 billion, a P/E ratio of 46.95, a PEG ratio of 2.09 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVOGet Free Report) last issued its 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. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. The company had revenue of $9.51 billion during the quarter, compared to the consensus estimate of $9.14 billion. As a group, analysts anticipate that Novo Nordisk A/S will post 3.35 EPS for the current year.

Novo Nordisk A/S Increases Dividend

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

About Novo Nordisk A/S

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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