Mezzasalma Advisors LLC Has $2.86 Million Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Mezzasalma Advisors LLC increased its position in Novo Nordisk A/S (NYSE:NVO) by 4.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,007 shares of the company’s stock after purchasing an additional 1,085 shares during the quarter. Novo Nordisk A/S makes up 1.1% of Mezzasalma Advisors LLC’s portfolio, making the stock its 27th largest holding. Mezzasalma Advisors LLC’s holdings in Novo Nordisk A/S were worth $2,859,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Folketrygdfondet grew its holdings in shares of Novo Nordisk A/S by 1.4% in the 1st quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock worth $1,124,275,000 after purchasing an additional 124,770 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Novo Nordisk A/S by 10.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after acquiring an additional 823,036 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Novo Nordisk A/S by 1.4% during the second quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock worth $607,242,000 after purchasing an additional 58,935 shares during the last quarter. GQG Partners LLC raised its holdings in shares of Novo Nordisk A/S by 654.6% in the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after buying an additional 3,151,584 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its position in Novo Nordisk A/S by 7.8% during the 1st quarter. 1832 Asset Management L.P. now owns 2,373,029 shares of the company’s stock worth $304,697,000 after buying an additional 172,003 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. BMO Capital Markets decreased their price target on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. Finally, StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $118.86 on Thursday. The firm has a market capitalization of $533.39 billion, a P/E ratio of 40.69, a PEG ratio of 1.53 and a beta of 0.42. Novo Nordisk A/S has a 1 year low of $92.94 and a 1 year high of $148.15. The business has a 50-day moving average of $128.99 and a 200-day moving average of $131.81. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.06). The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. On average, equities analysts anticipate that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given a $0.5126 dividend. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is presently 24.83%.

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.