Procyon Advisors LLC Acquires 17,783 Shares of Novo Nordisk A/S (NYSE:NVO)

Procyon Advisors LLC lifted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 47.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,026 shares of the company’s stock after purchasing an additional 17,783 shares during the quarter. Procyon Advisors LLC’s holdings in Novo Nordisk A/S were worth $5,692,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Chilton Capital Management LLC boosted its stake in Novo Nordisk A/S by 0.6% in the 2nd quarter. Chilton Capital Management LLC now owns 10,063 shares of the company’s stock valued at $1,628,000 after buying an additional 63 shares in the last quarter. IHT Wealth Management LLC boosted its stake in Novo Nordisk A/S by 3.5% in the 4th quarter. IHT Wealth Management LLC now owns 2,369 shares of the company’s stock valued at $321,000 after buying an additional 80 shares in the last quarter. Hancock Whitney Corp boosted its stake in Novo Nordisk A/S by 4.1% in the 1st quarter. Hancock Whitney Corp now owns 2,342 shares of the company’s stock valued at $373,000 after buying an additional 92 shares in the last quarter. SRS Capital Advisors Inc. raised its position in Novo Nordisk A/S by 9.6% in the 1st quarter. SRS Capital Advisors Inc. now owns 1,060 shares of the company’s stock valued at $169,000 after purchasing an additional 93 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its position in Novo Nordisk A/S by 3.5% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 2,960 shares of the company’s stock valued at $306,000 after purchasing an additional 100 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 traded up $0.82 during trading hours on Thursday, hitting $128.87. The company had a trading volume of 726,330 shares, compared to its average volume of 5,181,624. The firm has a market cap of $578.31 billion, a price-to-earnings ratio of 47.34, a PEG ratio of 2.13 and a beta of 0.41. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.19. The business has a fifty day moving average of $121.34 and a 200-day moving average of $104.22. Novo Nordisk A/S has a 12 month low of $75.56 and a 12 month high of $138.28.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data 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 firm had revenue of $9.51 billion during the quarter, compared to the consensus estimate of $9.14 billion. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. Equities analysts anticipate that Novo Nordisk A/S will post 3.35 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Tuesday, April 2nd. Investors of record on Monday, March 25th will be paid a $0.664 dividend. This is a boost from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, March 22nd. Novo Nordisk A/S’s payout ratio is 49.17%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NVO. TD Cowen boosted their target price on Novo Nordisk A/S from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, December 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, March 20th. Morgan Stanley started coverage on Novo Nordisk A/S in a research note on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 target price for the company. Finally, UBS Group started coverage on Novo Nordisk A/S in a research note on Tuesday, January 16th. They issued a “neutral” rating for the company. 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 stock. According to MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and an average target price of $126.25.

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.