Viking Fund Management LLC Acquires New Shares in Novo Nordisk A/S $NVO

Viking Fund Management LLC acquired a new position in Novo Nordisk A/S (NYSE:NVO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 250,000 shares of the company’s stock, valued at approximately $12,720,000. Novo Nordisk A/S makes up approximately 1.5% of Viking Fund Management LLC’s investment portfolio, making the stock its 17th largest position.

Several other institutional investors also recently bought and sold shares of NVO. Beacon Financial Group lifted its position in shares of Novo Nordisk A/S by 4.3% in the third quarter. Beacon Financial Group now owns 4,307 shares of the company’s stock worth $239,000 after buying an additional 178 shares during the last quarter. Kavar Capital Partners Group LLC increased its holdings in shares of Novo Nordisk A/S by 0.6% during the 3rd quarter. Kavar Capital Partners Group LLC now owns 32,631 shares of the company’s stock valued at $1,811,000 after acquiring an additional 200 shares during the last quarter. SeaBridge Investment Advisors LLC raised its stake in shares of Novo Nordisk A/S by 5.7% in the 3rd quarter. SeaBridge Investment Advisors LLC now owns 3,735 shares of the company’s stock valued at $207,000 after acquiring an additional 200 shares in the last quarter. Joel Isaacson & Co. LLC raised its stake in shares of Novo Nordisk A/S by 1.0% in the 3rd quarter. Joel Isaacson & Co. LLC now owns 21,084 shares of the company’s stock valued at $1,170,000 after acquiring an additional 200 shares in the last quarter. Finally, Revolve Wealth Partners LLC lifted its holdings in Novo Nordisk A/S by 8.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock worth $214,000 after purchasing an additional 200 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Trading Up 0.2%

Novo Nordisk A/S stock opened at $36.90 on Wednesday. The business has a 50 day moving average price of $47.31 and a two-hundred day moving average price of $50.81. The company has a quick ratio of 0.57, a current ratio of 0.80 and a debt-to-equity ratio of 0.61. Novo Nordisk A/S has a 12 month low of $35.85 and a 12 month high of $81.44. The stock has a market cap of $164.75 billion, a price-to-earnings ratio of 10.63 and a beta of 0.73.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Tuesday, February 3rd. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.11. The company had revenue of $12.43 billion for the quarter, compared to analyst estimates of $11.97 billion. Novo Nordisk A/S had a return on equity of 68.91% and a net margin of 33.03%. As a group, equities analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Announces Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Monday, March 30th will be issued a $1.2751 dividend. This represents a yield of 541.0%. The ex-dividend date of this dividend is Monday, March 30th. Novo Nordisk A/S’s payout ratio is 23.63%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NVO shares. HSBC reaffirmed a “hold” rating and set a $54.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, December 10th. Kepler Capital Markets downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. Jefferies Financial Group upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “hold” rating in a research note on Thursday, February 12th. Deutsche Bank Aktiengesellschaft lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday, February 23rd. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $41.00 target price (down from $63.00) on shares of Novo Nordisk A/S in a research report on Monday, March 2nd. Four research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $65.56.

Novo Nordisk A/S 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.