Novo Nordisk A/S $NVO Stock Holdings Increased by Martin Investment Management LLC

Key Points

• Martin Investment Management LLC increased its holdings in Novo Nordisk A/S by 2.4% in the first quarter, now owning 288,983 shares valued at approximately $20 million.
• Novo Nordisk A/S reported earnings of $0.97 per share, exceeding analysts' expectations, and had a revenue of $11.69 billion for the quarter.
• The company plans to pay a semi-annual dividend of $0.4119 on August 26th, which represents a **yield of 240.0%** with a payout ratio of **22.53%**.

Martin Investment Management LLC lifted its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 288,983 shares of the company's stock after buying an additional 6,820 shares during the period. Novo Nordisk A/S makes up 5.1% of Martin Investment Management LLC's investment portfolio, making the stock its 7th largest holding. Martin Investment Management LLC's holdings in Novo Nordisk A/S were worth $20,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of NVO. Copeland Capital Management LLC grew its position in shares of Novo Nordisk A/S by 184.8% in the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after buying an additional 255 shares during the last quarter. North Capital Inc. purchased a new position in Novo Nordisk A/S during the 1st quarter worth $27,000. Park Square Financial Group LLC purchased a new position in Novo Nordisk A/S during the 4th quarter worth $29,000. Stone House Investment Management LLC purchased a new position in Novo Nordisk A/S during the 1st quarter worth $30,000. Finally, Transce3nd LLC purchased a new position in Novo Nordisk A/S during the 4th quarter worth $33,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NVO shares. Wall Street Zen downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. UBS Group downgraded shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 5th. Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. 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. Finally, Zacks Research downgraded shares of Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research report on Wednesday. Three research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $81.00.

Novo Nordisk A/S Stock Performance

Shares of NVO stock traded up $1.4410 during mid-day trading on Friday, hitting $56.8910. The stock had a trading volume of 17,869,499 shares, compared to its average volume of 29,123,660. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $139.74. The firm has a market cap of $254.02 billion, a PE ratio of 15.63, a PEG ratio of 1.98 and a beta of 0.63. 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's 50-day simple moving average is $62.57 and its 200-day simple moving average is $69.33.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its 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 net margin of 35.60% and a return on equity of 78.64%. The company had revenue of $11.69 billion during the quarter, compared to analysts' expectations of $77.51 billion. Sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

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