Korea Investment CORP Buys New Shares in Novo Nordisk A/S $NVO

Korea Investment CORP bought a new stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 38,392 shares of the company's stock, valued at approximately $2,666,000.

Several other hedge funds have also modified their holdings of NVO. Bank of America Corp DE lifted its stake in Novo Nordisk A/S by 8.1% during the fourth quarter. Bank of America Corp DE now owns 15,492,384 shares of the company's stock valued at $1,332,655,000 after buying an additional 1,165,955 shares in the last quarter. Folketrygdfondet lifted its position in shares of Novo Nordisk A/S by 6.9% in the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company's stock valued at $661,202,000 after acquiring an additional 617,974 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Novo Nordisk A/S by 73.2% in the 4th quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company's stock valued at $537,189,000 after acquiring an additional 2,639,693 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Novo Nordisk A/S by 11.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company's stock valued at $395,291,000 after acquiring an additional 576,900 shares in the last quarter. Finally, Sustainable Growth Advisers LP lifted its position in shares of Novo Nordisk A/S by 3.8% in the 1st quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company's stock valued at $384,923,000 after acquiring an additional 202,443 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Up 2.6%

NYSE:NVO opened at $56.8910 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The company's 50 day moving average is $62.57 and its 200-day moving average is $69.33. The firm has a market cap of $254.02 billion, a price-to-earnings ratio of 15.63, a P/E/G ratio of 1.98 and a beta of 0.63. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $139.74.

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

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be given a dividend of $0.4119 per share. The ex-dividend date is Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S's dividend payout ratio is 22.53%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. TD Cowen reduced their price objective on Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, August 19th. Hsbc Global Res downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. HSBC lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective for the company. in a report on Thursday, July 31st. Zacks Research downgraded Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research note on Wednesday. Finally, BNP Paribas raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research report on Wednesday, August 13th. Three research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $81.00.

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.

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