GQG Partners LLC Purchases New Stake in Novo Nordisk A/S (NVO)
GQG Partners LLC purchased a new position 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 purchased 10,200 shares of the company’s stock, valued at approximately $437,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Morgan Stanley lifted its position in Novo Nordisk A/S by 1.1% during the 1st quarter. Morgan Stanley now owns 1,450,229 shares of the company’s stock worth $49,714,000 after acquiring an additional 15,086 shares during the period. Wayne Hummer Investments L.L.C. purchased a new position in shares of Novo Nordisk A/S during the 1st quarter valued at about $209,000. Willingdon Wealth Management raised its stake in shares of Novo Nordisk A/S by 3.0% during the 2nd quarter. Willingdon Wealth Management now owns 45,316 shares of the company’s stock valued at $1,944,000 after buying an additional 1,325 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Novo Nordisk A/S during the 1st quarter valued at about $17,406,000. Finally, Pacad Investment Ltd. purchased a new position in shares of Novo Nordisk A/S during the 2nd quarter valued at about $1,025,000. 6.01% of the stock is owned by institutional investors.
NVO has been the subject of a number of recent research reports. BidaskClub upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Zacks Investment Research upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Wednesday, June 21st. Finally, Bank of America Corporation upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research note on Wednesday, September 6th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Novo Nordisk A/S has an average rating of “Hold” and a consensus price target of $55.00.
TRADEMARK VIOLATION WARNING: This report was originally reported by Daily Political and is owned by of Daily Political. If you are accessing this report on another website, it was copied illegally and republished in violation of United States & international trademark & copyright legislation. The original version of this report can be viewed at https://www.dailypolitical.com/2017/09/22/gqg-partners-llc-purchases-new-stake-in-novo-nordisk-as-nvo.html.
Novo Nordisk A/S (NYSE:NVO) traded up 0.14% during trading on Friday, hitting $49.13. The company’s stock had a trading volume of 413,281 shares. The company has a 50-day moving average of $45.97 and a 200 day moving average of $41.13. The firm has a market cap of $121.85 billion, a PE ratio of 19.85 and a beta of 0.60. Novo Nordisk A/S has a one year low of $30.89 and a one year high of $49.45.
The firm also recently announced an annual dividend, which was paid on Tuesday, August 29th. Stockholders of record on Monday, August 21st were paid a dividend of $0.336 per share. This is an increase from Novo Nordisk A/S’s previous annual dividend of $0.33. The ex-dividend date of this dividend was Friday, August 18th. This represents a dividend yield of 1.07%. Novo Nordisk A/S’s dividend payout ratio is 36.44%.
Novo Nordisk A/S Profile
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company’s diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.
Want to see what other hedge funds are holding NVO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novo Nordisk A/S (NYSE:NVO).
Receive News & Ratings for Novo Nordisk A/S Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novo Nordisk A/S and related companies with MarketBeat.com's FREE daily email newsletter.