Perigon Wealth Management LLC Raises Position in Novo Nordisk A/S (NYSE:NVO)

Perigon Wealth Management LLC lifted its holdings in Novo Nordisk A/S (NYSE:NVO) by 65.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,165 shares of the company’s stock after buying an additional 4,798 shares during the quarter. Perigon Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $1,259,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Westside Investment Management Inc. raised its holdings in shares of Novo Nordisk A/S by 83.3% in the third quarter. Westside Investment Management Inc. now owns 1,428 shares of the company’s stock worth $130,000 after buying an additional 649 shares during the period. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD purchased a new position in Novo Nordisk A/S during the 3rd quarter worth $2,408,000. Lazard Asset Management LLC increased its holdings in Novo Nordisk A/S by 182.2% during the 3rd quarter. Lazard Asset Management LLC now owns 1,494,214 shares of the company’s stock worth $135,883,000 after purchasing an additional 964,640 shares during the period. Benedict Financial Advisors Inc. increased its holdings in Novo Nordisk A/S by 94.0% during the 3rd quarter. Benedict Financial Advisors Inc. now owns 44,292 shares of the company’s stock worth $4,028,000 after purchasing an additional 21,457 shares during the period. Finally, CENTRAL TRUST Co increased its holdings in Novo Nordisk A/S by 111.6% during the 3rd quarter. CENTRAL TRUST Co now owns 6,004 shares of the company’s stock worth $546,000 after purchasing an additional 3,166 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Down 0.7 %

Shares of NYSE NVO opened at $124.51 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $558.74 billion, a PE ratio of 46.03, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. The stock’s fifty day simple moving average is $125.93 and its two-hundred day simple moving average is $109.74. 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 announced its earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. The business had revenue of $9.51 billion for the quarter, compared to analysts’ expectations of $9.14 billion. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. As a group, analysts expect that Novo Nordisk A/S will post 3.33 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

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

Analyst Ratings Changes

Several research analysts have commented on NVO shares. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Monday, April 1st. 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 price objective on the stock. UBS Group assumed coverage on Novo Nordisk A/S in a report on Tuesday, January 16th. They set a “neutral” rating on the stock. Finally, BMO Capital Markets assumed coverage on Novo Nordisk A/S in a research report on Friday. They set an “outperform” rating and a $163.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $133.60.

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.