King Luther Capital Management Corp Raises Position in Novo Nordisk A/S (NYSE:NVO)

King Luther Capital Management Corp increased its position in Novo Nordisk A/S (NYSE:NVO) by 11.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,171 shares of the company’s stock after acquiring an additional 2,960 shares during the period. King Luther Capital Management Corp’s holdings in Novo Nordisk A/S were worth $4,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. purchased a new position in Novo Nordisk A/S in the 2nd quarter worth $25,000. Gilliland Jeter Wealth Management LLC raised its stake in shares of 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 last quarter. First PREMIER Bank purchased a new position in shares of Novo Nordisk A/S during the 1st quarter valued at about $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Novo Nordisk A/S during the 1st quarter valued at about $26,000. Finally, Orion Capital Management LLC purchased a new position in shares of Novo Nordisk A/S during the 1st quarter valued at about $26,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NYSE:NVO opened at $127.51 on Friday. Novo Nordisk A/S has a 52 week low of $86.96 and a 52 week high of $148.15. 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 stock has a market capitalization of $572.21 billion, a PE ratio of 43.97, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42. The stock’s 50-day moving average price is $133.13 and its 200-day moving average price is $133.26.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. As a group, equities analysts expect 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 issued a $0.5126 dividend. This represents a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s payout ratio is 24.83%.

Analysts Set New Price Targets

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

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.