Tri Locum Partners LP Acquires New Shares in Novo Nordisk A/S (NYSE:NVO)

Tri Locum Partners LP bought a new stake in shares of Novo Nordisk A/S (NYSE:NVO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 63,811 shares of the company’s stock, valued at approximately $9,108,000. Novo Nordisk A/S makes up about 2.3% of Tri Locum Partners LP’s holdings, making the stock its 18th biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Xponance Inc. grew its stake in Novo Nordisk A/S by 27.6% during the second quarter. Xponance Inc. now owns 2,665 shares of the company’s stock valued at $380,000 after acquiring an additional 576 shares in the last quarter. Evergreen Capital Management LLC boosted its holdings in Novo Nordisk A/S by 6.2% in the 2nd quarter. Evergreen Capital Management LLC now owns 29,307 shares of the company’s stock valued at $4,183,000 after purchasing an additional 1,710 shares during the period. Steel Grove Capital Advisors LLC grew its position in shares of Novo Nordisk A/S by 2.3% during the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock valued at $541,000 after purchasing an additional 86 shares in the last quarter. Harmony Asset Management LLC increased its holdings in shares of Novo Nordisk A/S by 5.2% in the second quarter. Harmony Asset Management LLC now owns 60,827 shares of the company’s stock worth $8,682,000 after purchasing an additional 3,002 shares during the period. Finally, Cyrus J. Lawrence LLC boosted its stake in Novo Nordisk A/S by 1.1% during the second quarter. Cyrus J. Lawrence LLC now owns 64,018 shares of the company’s stock valued at $9,137,000 after buying an additional 687 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $127.51 on Monday. The company has a 50-day simple moving average of $133.13 and a two-hundred day simple moving average of $133.32. Novo Nordisk A/S has a 12-month low of $86.96 and a 12-month high of $148.15. The firm has a market cap of $572.21 billion, a price-to-earnings ratio of 43.97, a PEG ratio of 1.48 and a beta of 0.42. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results 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 net margin of 34.86% and a return on equity of 87.43%. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. On average, equities analysts forecast that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Upgrades and Downgrades

NVO has been the topic of a number of research analyst reports. Argus upped their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, September 16th. 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 price target on the stock. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 18th. Finally, BMO Capital Markets decreased their price objective on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target 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.