Lockheed Martin Investment Management Co. Boosts Stock Position in Novo Nordisk A/S $NVO

Lockheed Martin Investment Management Co. grew its position in Novo Nordisk A/S (NYSE:NVO) by 179.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,450 shares of the company’s stock after buying 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 hedge funds have also made changes to their positions in NVO. Unified Investment Management purchased a new stake in shares of Novo Nordisk A/S in the 2nd quarter worth approximately $692,000. Acadian Asset Management LLC lifted its position in shares of Novo Nordisk A/S by 15,919.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock worth $72,523,000 after purchasing an additional 1,038,137 shares during the period. Guild Investment Management Inc. lifted its position in shares of Novo Nordisk A/S by 20.7% in the 2nd quarter. Guild Investment Management Inc. now owns 36,995 shares of the company’s stock worth $2,553,000 after purchasing an additional 6,345 shares during the period. Norden Group LLC lifted its position in shares of Novo Nordisk A/S by 216.3% in the 2nd quarter. Norden Group LLC now owns 96,332 shares of the company’s stock worth $6,649,000 after purchasing an additional 65,877 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of Novo Nordisk A/S by 48.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 103,138 shares of the company’s stock worth $7,119,000 after acquiring an additional 33,794 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Down 2.6%

Shares of NVO stock opened at $50.03 on Friday. The stock’s 50-day simple moving average is $56.32 and its 200-day simple moving average is $62.05. 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 firm has a market capitalization of $223.38 billion, a PE ratio of 13.74, a P/E/G ratio of 2.33 and a beta of 0.68. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $113.02.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Equities analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. HSBC set a $70.00 price target on Novo Nordisk A/S in a research report on Wednesday, October 1st. Barclays reissued an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Rothschild & Co Redburn raised Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 16th. Rothschild Redb raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 16th. Finally, Hsbc Global Res raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $76.00.

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.