Outlook Wealth Advisors LLC Acquires 517 Shares of Novo Nordisk A/S (NYSE:NVO)

Outlook Wealth Advisors LLC boosted its holdings in Novo Nordisk A/S (NYSE:NVO) by 17.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,400 shares of the company’s stock after acquiring an additional 517 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Novo Nordisk A/S were worth $437,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NVO. 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 valued at $130,000 after purchasing an additional 649 shares during the last quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD bought a new position in shares of Novo Nordisk A/S during the 3rd quarter worth approximately $2,408,000. Lazard Asset Management LLC boosted its stake in shares of Novo Nordisk A/S by 182.2% in the 3rd 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 during the last quarter. Benedict Financial Advisors Inc. grew 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 valued at $4,028,000 after acquiring an additional 21,457 shares in the last quarter. Finally, CENTRAL TRUST Co increased its position in shares of Novo Nordisk A/S by 111.6% during the third quarter. CENTRAL TRUST Co now owns 6,004 shares of the company’s stock valued at $546,000 after acquiring an additional 3,166 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NVO stock traded up $1.06 on Friday, hitting $126.85. 3,312,457 shares of the stock were exchanged, compared to its average volume of 3,307,405. Novo Nordisk A/S has a one year low of $75.56 and a one year high of $138.28. The firm’s 50 day moving average is $126.86 and its two-hundred day moving average is $111.98. The firm has a market capitalization of $569.24 billion, a PE ratio of 46.89, a P/E/G ratio of 2.10 and a beta of 0.41. 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 issued its 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. The firm had revenue of $9.51 billion during the quarter, compared to analyst estimates of $9.14 billion. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. Sell-side analysts expect that Novo Nordisk A/S will post 3.32 earnings per share 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. Investors of record on Monday, March 25th were paid a $0.664 dividend. This represents a yield of 0.9%. This is a positive change from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. The ex-dividend date of this dividend was Friday, March 22nd. Novo Nordisk A/S’s payout ratio is currently 49.17%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Thursday, April 18th. UBS Group started coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 16th. They issued a “neutral” rating on the stock. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 price objective for the company. Finally, BMO Capital Markets assumed coverage on shares of Novo Nordisk A/S in a research note on Friday, April 12th. They issued 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 assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $133.60.

About Novo Nordisk A/S

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.