Novo Nordisk A/S (NYSE:NVO) Stock Holdings Cut by TD Asset Management Inc

TD Asset Management Inc reduced its position in shares of Novo Nordisk A/S (NYSE:NVO) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,061,591 shares of the company’s stock after selling 12,431 shares during the quarter. TD Asset Management Inc’s holdings in Novo Nordisk A/S were worth $151,531,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of NVO. GQG Partners LLC lifted its position in shares of Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after acquiring an additional 3,151,584 shares during the last quarter. Capital International Investors lifted its position in shares of Novo Nordisk A/S by 22.3% during the 4th quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock valued at $736,121,000 after acquiring an additional 1,297,536 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Novo Nordisk A/S by 1,300.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock valued at $159,703,000 after acquiring an additional 1,155,313 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Novo Nordisk A/S by 10.6% during the 1st 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 acquiring an additional 823,036 shares during the last quarter. Finally, Norden Group LLC lifted its position in shares of Novo Nordisk A/S by 2,456.0% during the 1st quarter. Norden Group LLC now owns 658,856 shares of the company’s stock valued at $84,597,000 after acquiring an additional 633,079 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $130.87 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a 1 year low of $86.96 and a 1 year high of $148.15. The business has a fifty day simple moving average of $135.03 and a 200 day simple moving average of $132.42. The firm has a market cap of $587.28 billion, a price-to-earnings ratio of 45.13, a P/E/G ratio of 1.52 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. As a group, sell-side analysts predict that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. Argus increased their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday, August 19th. The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price for the company. Finally, BMO Capital Markets reduced 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. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S 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.