Heirloom Wealth Management Boosts Stake in Novo Nordisk A/S (NYSE:NVO)

Heirloom Wealth Management lifted its holdings in Novo Nordisk A/S (NYSE:NVO) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,950 shares of the company’s stock after buying an additional 1,416 shares during the quarter. Novo Nordisk A/S accounts for 3.0% of Heirloom Wealth Management’s portfolio, making the stock its 11th biggest holding. Heirloom Wealth Management’s holdings in Novo Nordisk A/S were worth $7,857,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of research firms have commented on NVO. BMO Capital Markets began coverage on Novo Nordisk A/S in a research report on Friday, April 12th. They set an “outperform” rating and a $163.00 target price on the stock. Morgan Stanley began coverage on Novo Nordisk A/S in a research report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday. Finally, UBS Group started coverage on Novo Nordisk A/S in a research report on Tuesday, January 16th. They set a “neutral” rating on the stock. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.60.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO traded down $0.05 during trading on Friday, reaching $122.70. The company had a trading volume of 5,181,119 shares, compared to its average volume of 4,882,816. Novo Nordisk A/S has a twelve month low of $75.56 and a twelve month high of $138.28. The stock has a market capitalization of $550.62 billion, a PE ratio of 45.36, a price-to-earnings-growth ratio of 2.08 and a beta of 0.41. The stock has a 50-day moving average price of $126.39 and a two-hundred day moving average price of $110.72. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.19.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share 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 analysts’ expectations of $9.14 billion. As a group, sell-side analysts predict that Novo Nordisk A/S will post 3.32 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

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

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.