Garrison Point Advisors LLC Buys New Position in Novo Nordisk A/S (NYSE:NVO)

Garrison Point Advisors LLC purchased a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 36,268 shares of the company’s stock, valued at approximately $3,120,000. Novo Nordisk A/S accounts for about 1.5% of Garrison Point Advisors LLC’s investment portfolio, making the stock its 14th biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in shares of Novo Nordisk A/S in the third quarter valued at approximately $42,017,000. Kovitz Investment Group Partners LLC raised its position in shares of Novo Nordisk A/S by 106.9% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 82,054 shares of the company’s stock valued at $8,961,000 after purchasing an additional 42,389 shares during the last quarter. Insigneo Advisory Services LLC lifted its position in shares of Novo Nordisk A/S by 11.7% in the third quarter. Insigneo Advisory Services LLC now owns 11,947 shares of the company’s stock valued at $1,423,000 after acquiring an additional 1,254 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of Novo Nordisk A/S by 14.8% in the 3rd quarter. EP Wealth Advisors LLC now owns 75,566 shares of the company’s stock valued at $8,998,000 after purchasing an additional 9,722 shares during the last quarter. Finally, Glen Eagle Advisors LLC raised its stake in Novo Nordisk A/S by 10.4% during the 3rd quarter. Glen Eagle Advisors LLC now owns 11,728 shares of the company’s stock valued at $1,396,000 after acquiring an additional 1,103 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NVO. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 21st. Stifel Nicolaus cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Kepler Capital Markets raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Finally, Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an “equal weight” rating for the company. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.25.

Novo Nordisk A/S Stock Down 6.7 %

Shares of NYSE NVO opened at $62.58 on Friday. The stock has a market cap of $280.84 billion, a P/E ratio of 19.02, a P/E/G ratio of 0.90 and a beta of 0.61. The firm has a 50 day moving average price of $80.85 and a 200 day moving average price of $96.50. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. Novo Nordisk A/S has a 52-week low of $62.37 and a 52-week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. Analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be paid a dividend of $0.7874 per share. This represents a yield of 1.2%. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio is presently 47.72%.

Novo Nordisk A/S 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.