Procyon Advisors LLC Buys 17,783 Shares of Novo Nordisk A/S (NYSE:NVO)

Procyon Advisors LLC boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 47.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,026 shares of the company’s stock after buying an additional 17,783 shares during the quarter. Procyon Advisors LLC’s holdings in Novo Nordisk A/S were worth $5,692,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in NVO. Westside Investment Management Inc. lifted its holdings in Novo Nordisk A/S by 83.3% during the third quarter. Westside Investment Management Inc. now owns 1,428 shares of the company’s stock valued at $130,000 after purchasing an additional 649 shares during the last quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD purchased a new stake in shares of Novo Nordisk A/S in the third quarter worth about $2,408,000. Lazard Asset Management LLC lifted its holdings in shares of Novo Nordisk A/S by 182.2% in the third quarter. Lazard Asset Management LLC now owns 1,494,214 shares of the company’s stock worth $135,883,000 after buying an additional 964,640 shares in the last quarter. Benedict Financial Advisors Inc. lifted its holdings in shares of Novo Nordisk A/S by 94.0% in the third quarter. Benedict Financial Advisors Inc. now owns 44,292 shares of the company’s stock worth $4,028,000 after buying an additional 21,457 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its holdings in shares of Novo Nordisk A/S by 111.6% in the third quarter. CENTRAL TRUST Co now owns 6,004 shares of the company’s stock worth $546,000 after buying an additional 3,166 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 0.6 %

NVO stock traded up $0.82 on Thursday, reaching $128.87. The company’s stock had a trading volume of 726,330 shares, compared to its average volume of 5,181,624. The business has a fifty day simple moving average of $121.34 and a two-hundred day simple moving average of $104.22. Novo Nordisk A/S has a 12-month low of $75.56 and a 12-month high of $138.28. The firm has a market cap of $578.31 billion, a PE ratio of 47.34, a PEG ratio of 2.13 and a beta of 0.41. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.64 and a current ratio of 0.82.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, topping 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 analyst estimates of $9.14 billion. As a group, research analysts forecast 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 will be paid on Tuesday, April 2nd. Investors of record on Monday, March 25th will be paid a $0.664 dividend. This is a positive change from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. The ex-dividend date is Friday, March 22nd. This represents a yield of 0.9%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 49.17%.

Analysts Set New Price Targets

NVO has been the topic of several research analyst reports. TD Cowen upped their price objective on shares of Novo Nordisk A/S from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, December 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, March 20th. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price objective on the stock. Finally, UBS Group started coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 16th. They set a “neutral” rating on the stock. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $126.25.

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.