Loudon Investment Management LLC Makes New $2.60 Million Investment in Novo Nordisk A/S $NVO

Key Points

• Loudon Investment Management LLC acquired a new stake in Novo Nordisk A/S, purchasing 37,671 shares valued at approximately $2.60 million, making it the fund's 24th largest holding.
• Several institutional investors, including Kingstone Capital Partners, significantly increased their positions in the stock, with some showing growth as high as 301,443.6%.
• Analyst ratings for Novo Nordisk A/S are mixed, with upgrades and downgrades from various firms, leading to an average rating of "Hold" and a target price of $75.33.

Loudon Investment Management LLC bought a new stake in Novo Nordisk A/S (NYSE:NVO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 37,671 shares of the company's stock, valued at approximately $2,600,000. Novo Nordisk A/S accounts for about 1.4% of Loudon Investment Management LLC's portfolio, making the stock its 24th largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Kingstone Capital Partners Texas LLC boosted its position in Novo Nordisk A/S by 301,443.6% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company's stock valued at $690,560,000 after purchasing an additional 10,001,898 shares during the period. Nuveen LLC bought a new stake in Novo Nordisk A/S in the first quarter valued at $370,272,000. Amundi boosted its holdings in shares of Novo Nordisk A/S by 49.1% during the first quarter. Amundi now owns 4,938,507 shares of the company's stock valued at $331,576,000 after acquiring an additional 1,627,051 shares during the period. Acadian Asset Management LLC grew its position in shares of Novo Nordisk A/S by 15,919.9% during the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company's stock worth $72,523,000 after acquiring an additional 1,038,137 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Novo Nordisk A/S by 118.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,594,544 shares of the company's stock worth $110,725,000 after acquiring an additional 864,579 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NVO shares. BNP Paribas upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research report on Wednesday, August 13th. Hsbc Global Res lowered shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Dbs Bank upgraded Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research report on Friday, August 22nd. Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Finally, UBS Group downgraded Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Novo Nordisk A/S presently has an average rating of "Hold" and an average target price of $75.33.

Novo Nordisk A/S Price Performance

NYSE NVO opened at $55.52 on Wednesday. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $120.56. The firm has a market capitalization of $247.90 billion, a PE ratio of 15.25, a P/E/G ratio of 2.10 and a beta of 0.66. The company's 50 day simple moving average is $55.62 and its 200 day simple moving average is $64.17. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56.

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

Novo Nordisk A/S Cuts Dividend

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

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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