Eagle Ridge Investment Management Has $384,000 Stake in Novo Nordisk A/S (NYSE:NVO)

Eagle Ridge Investment Management lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 17.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,712 shares of the company’s stock after buying an additional 562 shares during the quarter. Eagle Ridge Investment Management’s holdings in Novo Nordisk A/S were worth $384,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. U.S. Capital Wealth Advisors LLC grew its position in Novo Nordisk A/S by 83.0% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 15,331 shares of the company’s stock valued at $1,394,000 after purchasing an additional 6,954 shares during the period. Golden State Equity Partners grew its position in Novo Nordisk A/S by 93.1% in the 3rd quarter. Golden State Equity Partners now owns 3,521 shares of the company’s stock valued at $320,000 after purchasing an additional 1,698 shares during the period. Lake Street Financial LLC grew its position in Novo Nordisk A/S by 104.9% in the 3rd quarter. Lake Street Financial LLC now owns 3,940 shares of the company’s stock valued at $361,000 after purchasing an additional 2,017 shares during the period. Bill Few Associates Inc. acquired a new stake in Novo Nordisk A/S in the 3rd quarter valued at $218,000. Finally, Brookstone Capital Management grew its position in Novo Nordisk A/S by 91.4% in the 3rd quarter. Brookstone Capital Management now owns 14,339 shares of the company’s stock valued at $1,400,000 after purchasing an additional 6,846 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

NVO has been the topic of a number of research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Thursday, April 18th. BMO Capital Markets initiated coverage on Novo Nordisk A/S in a report on Friday, April 12th. They set an “outperform” rating and a $163.00 target price for the company. UBS Group initiated coverage on Novo Nordisk A/S in a report on Tuesday, January 16th. They set a “neutral” rating for the company. Finally, Morgan Stanley initiated coverage on Novo Nordisk A/S in a report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 target price for the company. Two investment 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 stock. According to data from MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.60.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO traded down $0.24 during midday trading on Monday, hitting $126.61. 1,341,506 shares of the company’s stock were exchanged, compared to its average volume of 4,755,698. Novo Nordisk A/S has a 12-month low of $75.56 and a 12-month high of $138.28. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.19. The company has a market cap of $568.17 billion, a price-to-earnings ratio of 46.99, a PEG ratio of 2.12 and a beta of 0.41. The business’s fifty day moving average price is $126.86 and its two-hundred day moving average price is $112.21.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. The business had revenue of $9.51 billion during the quarter, compared to analyst estimates of $9.14 billion. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. As a group, research analysts forecast that Novo Nordisk A/S will post 3.32 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 25th were paid a $0.664 dividend. The ex-dividend date was Friday, March 22nd. 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. Novo Nordisk A/S’s dividend payout ratio is currently 49.17%.

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.