Lockheed Martin Investment Management Co. Grows Stake in Novo Nordisk A/S $NVO

Key Points

• Lockheed Martin Investment Management Co. increased its stake in Novo Nordisk A/S by 179.4%, owning 43,450 shares worth approximately $2.99 million following a significant purchase of 27,900 shares in the second quarter.
• Other institutional investors such as Kingstone Capital Partners and Nuveen LLC also made substantial changes to their positions in Novo Nordisk A/S, with Kingstone growing its stake by over 301,000% during the same period.
• Novo Nordisk A/S reported an earnings per share of $0.97 for the last quarter, exceeding analysts' estimates of $0.93, while also announcing a semi-annual dividend of $0.4119 per share.

Lockheed Martin Investment Management Co. increased its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 179.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,450 shares of the company's stock after purchasing an additional 27,900 shares during the quarter. Lockheed Martin Investment Management Co.'s holdings in Novo Nordisk A/S were worth $2,999,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NVO. Kingstone Capital Partners Texas LLC grew its position in shares of Novo Nordisk A/S by 301,443.6% during the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company's stock worth $690,560,000 after purchasing an additional 10,001,898 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Novo Nordisk A/S during the first quarter worth about $370,272,000. Amundi grew its holdings in Novo Nordisk A/S by 49.1% during the 1st quarter. Amundi now owns 4,938,507 shares of the company's stock valued at $331,576,000 after buying an additional 1,627,051 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Novo Nordisk A/S by 15,919.9% during the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company's stock valued at $72,523,000 after buying an additional 1,038,137 shares in the last quarter. Finally, Folketrygdfondet grew its holdings in Novo Nordisk A/S by 6.9% during the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company's stock valued at $661,202,000 after buying an additional 617,974 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $50.03 on Friday. The stock has a market cap of $223.38 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 2.33 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. The stock has a 50 day moving average price of $56.32 and a 200-day moving average price of $62.05. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $113.02.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $11.69 billion during the quarter, compared to analysts' expectations of $77.51 billion. Equities analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. UBS Group cut Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. Hsbc Global Res upgraded Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 1st. Berenberg Bank upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Wednesday, September 17th. Jefferies Financial Group assumed coverage on Novo Nordisk A/S in a report on Monday. They set an "underperform" rating for the company. Finally, HSBC set a $70.00 price target on Novo Nordisk A/S in a report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Novo Nordisk A/S has a consensus rating of "Hold" and an average price target of $76.00.

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.

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