Oakmont Investment Advisors Inc. Invests $1.16 Million in Novo Nordisk A/S $NVO

Key Points

• Oakmont Investment Advisors acquired 24,243 Novo Nordisk shares during the second quarter, worth approximately $1.16 million. Other institutional investors also added to or initiated positions, with institutions and hedge funds owning 11.54% of the stock.
• Novo Nordisk shares recently traded at $46.59, down 1.9%, with the stock valued at a price-to-earnings ratio of 11.39. The company reported quarterly revenue of $11.98 billion and earnings of $0.94 per share.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating from 19 analysts, with a consensus price target of $64.94, despite mixed upgrades and downgrades.

Oakmont Investment Advisors Inc. acquired a new stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 24,243 shares of the company's stock, valued at approximately $1,162,000.

Several other hedge funds have also recently made changes to their positions in NVO. TD Waterhouse Canada Inc. raised its stake in Novo Nordisk A/S by 4.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 74,856 shares of the company's stock worth $3,651,000 after acquiring an additional 3,399 shares during the last quarter. Continuum Advisory LLC purchased a new stake in Novo Nordisk A/S during the 2nd quarter valued at about $38,000. Nykredit A S acquired a new position in shares of Novo Nordisk A/S in the second quarter valued at about $289,000. Hudson Portfolio Management LLC purchased a new position in shares of Novo Nordisk A/S in the second quarter worth about $260,000. Finally, Birch Capital Management LLC raised its stake in shares of Novo Nordisk A/S by 3.3% in the second quarter. Birch Capital Management LLC now owns 167,489 shares of the company's stock worth $8,029,000 after purchasing an additional 5,347 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Trading Down 1.9%

Shares of NYSE:NVO opened at $46.59 on Friday. Novo Nordisk A/S has a 12-month low of $35.12 and a 12-month high of $64.16. The company has a market capitalization of $208.02 billion, a PE ratio of 11.39, a PEG ratio of 1.60 and a beta of 0.74. The business has a 50 day moving average of $47.93 and a two-hundred day moving average of $43.79. The company has a current ratio of 0.79, a quick ratio of 0.56 and a debt-to-equity ratio of 0.59.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The company reported $0.94 EPS for the quarter. The business had revenue of $11.98 billion for the quarter. Novo Nordisk A/S had a return on equity of 61.20% and a net margin of 35.36%. As a group, analysts forecast that Novo Nordisk A/S will post 3.45 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a dividend, which was paid on Tuesday, August 25th. Investors of record on Monday, August 17th were issued a dividend of $0.5786 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a yield of 258.0%. Novo Nordisk A/S's dividend payout ratio is 20.05%.

Analysts Set New Price Targets

A number of brokerages recently commented on NVO. BMO Capital Markets reiterated a "market perform" rating and issued a $47.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, August 6th. Nordea Equity Research upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Friday, June 19th. Deutsche Bank Aktiengesellschaft downgraded shares of Novo Nordisk A/S from a "hold" rating to a "sell" rating in a report on Thursday, August 27th. Wall Street Zen lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Finally, HSBC restated a "hold" rating on shares of Novo Nordisk A/S in a research report on Monday, July 6th. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $64.94.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.

Want to see what other hedge funds are holding NVO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novo Nordisk A/S (NYSE:NVO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source