Novo Nordisk A/S $NVO Shares Acquired by Kingstone Capital Partners Texas LLC

Key Points

• Kingstone Capital Partners Texas LLC significantly increased its stake in Novo Nordisk A/S by 301,443.6% during the second quarter, acquiring over 10 million shares valued at approximately $690.56 million.
• Several institutional investors, including Goldman Sachs and Amundi, also raised their holdings in Novo Nordisk A/S during the first quarter, highlighting increased interest from the investment community.
• Despite a recent upgrade to a "strong-buy" rating by Rothschild Redb, the overall consensus rating for Novo Nordisk A/S remains a "Hold," indicating mixed analyst sentiment on its stock performance.

Kingstone Capital Partners Texas LLC boosted its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 301,443.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,005,216 shares of the company's stock after acquiring an additional 10,001,898 shares during the quarter. Kingstone Capital Partners Texas LLC owned 0.22% of Novo Nordisk A/S worth $690,560,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Copeland Capital Management LLC lifted its position in Novo Nordisk A/S by 184.8% during the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after purchasing an additional 255 shares during the last quarter. North Capital Inc. purchased a new stake in Novo Nordisk A/S during the 1st quarter valued at $27,000. Park Square Financial Group LLC acquired a new stake in Novo Nordisk A/S in the fourth quarter worth about $29,000. Stone House Investment Management LLC purchased a new position in Novo Nordisk A/S during the first quarter valued at approximately $30,000. Finally, Disciplina Capital Management LLC boosted its stake in Novo Nordisk A/S by 162.3% during the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company's stock worth $33,000 after buying an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Rothschild Redb raised Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 16th. Zacks Research cut shares of Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 20th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a research note on Tuesday, September 9th. UBS Group cut shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. Finally, Rothschild & Co Redburn raised shares of Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a research report on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of "Hold" and an average target price of $81.00.

Novo Nordisk A/S Price Performance

Shares of NVO traded down $0.40 during mid-day trading on Friday, reaching $61.45. The company had a trading volume of 12,824,513 shares, compared to its average volume of 13,342,038. The company's 50-day moving average is $56.88 and its 200-day moving average is $65.26. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The company has a market capitalization of $274.37 billion, a P/E ratio of 16.88, a P/E/G ratio of 2.33 and a beta of 0.66. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $129.48.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The firm had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. On average, equities analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were issued a $0.4119 dividend. This represents a yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S's payout ratio is currently 22.53%.

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.