Novo Nordisk A/S $NVO Shares Purchased by Martin Capital Partners LLC

Key Points

• Martin Capital Partners LLC raised its stake in Novo Nordisk by 53.8% in Q3, buying 41,129 shares to hold 117,577 shares worth about $6.52 million, representing roughly 2.5% of the fund and its 18th largest position.
• Novo Nordisk reported Q3 EPS of $1.02 versus estimates of $0.77 (revenue was $11.79B, slightly below the $11.98B consensus), and showed strong profitability metrics including a 73.5% ROE and a 32.76% net margin.
• Market context: the company has a market cap of about $225 billion with a P/E of 14.64, a 1-year range of $43.08–$109.88, and an average analyst rating of Hold with a $53.33 price target.

Martin Capital Partners LLC boosted its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 53.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 117,577 shares of the company's stock after purchasing an additional 41,129 shares during the quarter. Novo Nordisk A/S comprises about 2.5% of Martin Capital Partners LLC's holdings, making the stock its 18th largest position. Martin Capital Partners LLC's holdings in Novo Nordisk A/S were worth $6,524,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of NVO. Jennison Associates LLC lifted its position in Novo Nordisk A/S by 0.3% during the second quarter. Jennison Associates LLC now owns 18,885,343 shares of the company's stock valued at $1,303,466,000 after buying an additional 63,341 shares in the last quarter. Loomis Sayles & Co. L P grew its position in Novo Nordisk A/S by 1.5% in the 2nd quarter. Loomis Sayles & Co. L P now owns 12,576,031 shares of the company's stock worth $867,998,000 after purchasing an additional 187,789 shares during the last quarter. Kingstone Capital Partners Texas LLC increased its holdings 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 valued at $690,560,000 after purchasing an additional 10,001,898 shares during the period. Sustainable Growth Advisers LP increased its position in shares of Novo Nordisk A/S by 11.7% during the 2nd quarter. Sustainable Growth Advisers LP now owns 6,192,636 shares of the company's stock valued at $427,416,000 after purchasing an additional 649,390 shares during the period. Finally, State Street Corp boosted its holdings in shares of Novo Nordisk A/S by 0.8% in the second quarter. State Street Corp now owns 6,047,683 shares of the company's stock worth $418,231,000 after buying an additional 47,430 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $50.38 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The firm's 50-day moving average price is $50.67 and its 200-day moving average price is $58.16. Novo Nordisk A/S has a 1-year low of $43.08 and a 1-year high of $109.88. The firm has a market capitalization of $224.93 billion, a P/E ratio of 14.64 and a beta of 0.67.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.25. Novo Nordisk A/S had a return on equity of 73.50% and a net margin of 32.76%.The company had revenue of $11.79 billion during the quarter, compared to the consensus estimate of $11.98 billion. Equities research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Hsbc Global Res downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 24th. Argus reaffirmed a "hold" rating on shares of Novo Nordisk A/S in a research report on Monday, December 8th. Sanford C. Bernstein upgraded Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a report on Tuesday, September 9th. Dbs Bank raised shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, HSBC reissued a "hold" rating and set a $54.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S currently has an average rating of "Hold" and an average price target of $53.33.

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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