Potentia Wealth Invests $240,000 in Novo Nordisk A/S (NYSE:NVO)

Potentia Wealth acquired a new stake in shares of Novo Nordisk A/S (NYSE:NVO) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 2,795 shares of the company’s stock, valued at approximately $240,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GQG Partners LLC lifted its position in Novo Nordisk A/S by 74.7% during the fourth quarter. GQG Partners LLC now owns 12,994,533 shares of the company’s stock valued at $1,117,790,000 after acquiring an additional 5,556,460 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Novo Nordisk A/S during the fourth quarter worth $404,910,000. Sustainable Growth Advisers LP lifted its holdings in shares of Novo Nordisk A/S by 23.6% during the 4th quarter. Sustainable Growth Advisers LP now owns 5,340,803 shares of the company’s stock valued at $459,416,000 after purchasing an additional 1,021,498 shares during the last quarter. Amundi boosted its position in shares of Novo Nordisk A/S by 26.4% in the 4th quarter. Amundi now owns 3,311,456 shares of the company’s stock worth $283,615,000 after purchasing an additional 692,567 shares in the last quarter. Finally, Parnassus Investments LLC purchased a new position in Novo Nordisk A/S during the 4th quarter worth $51,072,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NVO shares. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Friday. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Stifel Nicolaus cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, BMO Capital Markets lowered their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Stock Down 2.0 %

Shares of NVO opened at $75.30 on Tuesday. The company has a market capitalization of $337.91 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 0.90 and a beta of 0.42. Novo Nordisk A/S has a 52 week low of $73.80 and a 52 week high of $148.15. The stock’s 50-day moving average price is $83.16 and its 200-day moving average price is $100.35. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates 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%. On average, sell-side analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be given a dividend of $0.7874 per share. The ex-dividend date is Monday, March 31st. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a dividend yield of 1.2%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 47.72%.

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.