Kingfisher Capital LLC Acquires 893 Shares of Novo Nordisk A/S (NYSE:NVO)

Kingfisher Capital LLC lifted its holdings in Novo Nordisk A/S (NYSE:NVO) by 44.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,893 shares of the company’s stock after buying an additional 893 shares during the period. Kingfisher Capital LLC’s holdings in Novo Nordisk A/S were worth $413,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. 1620 Investment Advisors Inc. purchased a new stake in Novo Nordisk A/S during the second quarter valued at approximately $25,000. Gilliland Jeter Wealth Management LLC raised its holdings in Novo Nordisk A/S by 200.0% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after buying an additional 120 shares during the period. First PREMIER Bank bought a new stake in Novo Nordisk A/S in the first quarter worth $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Novo Nordisk A/S during the first quarter worth $26,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Novo Nordisk A/S in the first quarter valued at $26,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, September 16th. Argus upped their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 18th. Finally, BMO Capital Markets lowered their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $145.17.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $125.48 on Wednesday. The company’s 50 day moving average is $132.47 and its 200 day moving average is $133.18. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a market cap of $563.10 billion, a price-to-earnings ratio of 43.27, a PEG ratio of 1.35 and a beta of 0.42. Novo Nordisk A/S has a 52-week low of $86.96 and a 52-week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. On average, sell-side analysts anticipate that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were paid a dividend of $0.5126 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

Novo Nordisk A/S 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.