MontVue Capital Management Inc. Raises Stake in Novo Nordisk A/S (NYSE:NVO)

MontVue Capital Management Inc. boosted its position in Novo Nordisk A/S (NYSE:NVO) by 29.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,089 shares of the company’s stock after purchasing an additional 479 shares during the period. MontVue Capital Management Inc.’s holdings in Novo Nordisk A/S were worth $298,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of NVO. GQG Partners LLC boosted its stake in Novo Nordisk A/S by 654.6% in the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after buying an additional 3,151,584 shares in the last quarter. Capital International Investors boosted its stake in shares of Novo Nordisk A/S by 22.3% during the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock valued at $736,121,000 after purchasing an additional 1,297,536 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Novo Nordisk A/S by 1,300.8% during the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock valued at $159,703,000 after purchasing an additional 1,155,313 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Novo Nordisk A/S by 10.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after purchasing an additional 823,036 shares during the period. Finally, Norden Group LLC boosted its stake in shares of Novo Nordisk A/S by 2,456.0% during the first quarter. Norden Group LLC now owns 658,856 shares of the company’s stock valued at $84,597,000 after purchasing an additional 633,079 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Up 0.1 %

NVO traded up $0.10 during trading on Friday, reaching $136.98. The stock had a trading volume of 2,111,490 shares, compared to its average volume of 4,428,083. The stock’s 50 day moving average is $136.33 and its two-hundred day moving average is $131.34. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $614.70 billion, a price-to-earnings ratio of 47.21, a P/E/G ratio of 1.33 and a beta of 0.41. Novo Nordisk A/S has a one year low of $86.96 and a one year high of $148.15.

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Argus increased 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. BMO Capital Markets decreased their target price 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. The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Monday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.17.

About Novo Nordisk A/S

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.