Garrison Point Advisors LLC Takes $3.12 Million Position in Novo Nordisk A/S (NYSE:NVO)

Garrison Point Advisors LLC purchased a new position in Novo Nordisk A/S (NYSE:NVO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 36,268 shares of the company's stock, valued at approximately $3,120,000. Novo Nordisk A/S comprises about 1.5% of Garrison Point Advisors LLC's portfolio, making the stock its 14th largest position.

A number of other hedge funds have also recently modified their holdings of NVO. Center for Financial Planning Inc. increased its position in shares of Novo Nordisk A/S by 72.4% during the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company's stock valued at $25,000 after buying an additional 123 shares during the period. Albion Financial Group UT raised its position in shares of Novo Nordisk A/S by 121.4% in the 4th quarter. Albion Financial Group UT now owns 507 shares of the company's stock worth $44,000 after acquiring an additional 278 shares in the last quarter. Sound Income Strategies LLC lifted its stake in shares of Novo Nordisk A/S by 82.1% in the 4th quarter. Sound Income Strategies LLC now owns 539 shares of the company's stock valued at $46,000 after purchasing an additional 243 shares during the period. Hager Investment Management Services LLC bought a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $46,000. Finally, Halbert Hargrove Global Advisors LLC bought a new position in Novo Nordisk A/S in the fourth quarter worth $47,000. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Trading Down 5.3 %

NVO traded down $3.45 during trading on Thursday, hitting $61.64. 6,782,196 shares of the stock were exchanged, compared to its average volume of 5,744,796. Novo Nordisk A/S has a 1 year low of $59.37 and a 1 year high of $148.15. The firm has a market cap of $276.60 billion, a price-to-earnings ratio of 18.63, a P/E/G ratio of 0.90 and a beta of 0.61. The firm has a 50 day simple moving average of $78.66 and a 200 day simple moving average of $94.43. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74.

Remove Ads

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st were given a $0.7874 dividend. This represents a dividend yield of 1.2%. This is a positive change from Novo Nordisk A/S's previous semi-annual dividend of $0.51. The ex-dividend date of this dividend was Monday, March 31st. Novo Nordisk A/S's payout ratio is presently 49.54%.

Analyst Ratings Changes

NVO has been the topic of a number of analyst reports. Sanford C. Bernstein raised Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a research report on Monday, January 6th. Stifel Nicolaus cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Kepler Capital Markets raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Morgan Stanley initiated coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an "equal weight" rating for the company. Finally, StockNews.com raised Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a report on Monday. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $145.25.

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.