National Bank of Canada FI Has $37.95 Million Position in Novo Nordisk A/S (NYSE:NVO)

National Bank of Canada FI lowered its holdings in Novo Nordisk A/S (NYSE:NVO) by 40.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 261,387 shares of the company’s stock after selling 181,051 shares during the period. National Bank of Canada FI’s holdings in Novo Nordisk A/S were worth $37,947,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. First PREMIER Bank acquired a new stake in Novo Nordisk A/S during the 1st quarter worth about $25,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Novo Nordisk A/S during the second quarter worth approximately $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Novo Nordisk A/S during the first quarter valued at approximately $26,000. Orion Capital Management LLC purchased a new position in Novo Nordisk A/S during the first quarter valued at approximately $26,000. Finally, Gilliland Jeter Wealth Management LLC increased its stake in Novo Nordisk A/S by 200.0% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after buying an additional 120 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 2.7 %

Shares of NVO stock opened at $130.87 on Friday. The stock’s 50 day simple moving average is $135.03 and its 200 day simple moving average is $132.42. Novo Nordisk A/S has a twelve month low of $86.96 and a twelve month high of $148.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The company has a market capitalization of $587.28 billion, a price-to-earnings ratio of 45.13, a PEG ratio of 1.52 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 EPS 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 firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. As a group, research analysts predict that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Ratings Changes

NVO has been the topic of a number of research reports. BMO Capital Markets dropped their price target on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. The Goldman Sachs Group started coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price target for the company. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 19th. Argus raised their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.17.

Novo Nordisk A/S Company 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.