Viking Fund Management LLC Invests $12.72 Million in Novo Nordisk A/S $NVO

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

Other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC boosted its holdings in shares of Novo Nordisk A/S by 209.8% in the third quarter. True Wealth Design LLC now owns 443 shares of the company’s stock worth $25,000 after buying an additional 300 shares during the period. Guerra Advisors Inc acquired a new stake in shares of Novo Nordisk A/S during the third quarter valued at approximately $25,000. Strengthening Families & Communities LLC purchased a new stake in shares of Novo Nordisk A/S in the 3rd quarter valued at approximately $30,000. Allianz SE lifted its position in shares of Novo Nordisk A/S by 70.0% in the 3rd quarter. Allianz SE now owns 578 shares of the company’s stock valued at $32,000 after acquiring an additional 238 shares in the last quarter. Finally, Financial Life Planners purchased a new position in Novo Nordisk A/S during the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 0.2%

NYSE NVO opened at $36.90 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.57 and a debt-to-equity ratio of 0.61. Novo Nordisk A/S has a 1-year low of $35.85 and a 1-year high of $81.44. The firm’s fifty day simple moving average is $47.31 and its 200-day simple moving average is $50.81. The company has a market capitalization of $164.75 billion, a PE ratio of 10.63 and a beta of 0.73.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Tuesday, February 3rd. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Novo Nordisk A/S had a return on equity of 68.91% and a net margin of 33.03%.The firm had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $11.97 billion. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Announces Dividend

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

Analyst Ratings Changes

NVO has been the subject of a number of research analyst reports. TD Cowen lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $42.00 target price for the company. in a report on Tuesday, March 10th. Sanford C. Bernstein began coverage on Novo Nordisk A/S in a research report on Wednesday, March 18th. They set an “outperform” rating and a $175.00 price target on the stock. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novo Nordisk A/S in a research note on Tuesday, February 24th. Weiss Ratings lowered Novo Nordisk A/S from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, March 18th. Finally, Deutsche Bank Aktiengesellschaft downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, February 23rd. Four analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company 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.