M&T Bank Corp Sells 1,320 Shares of Novo Nordisk A/S (NYSE:NVO)

M&T Bank Corp reduced its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 133,648 shares of the company’s stock after selling 1,320 shares during the period. M&T Bank Corp’s holdings in Novo Nordisk A/S were worth $13,826,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Clarius Group LLC increased its holdings in Novo Nordisk A/S by 0.5% in the 4th quarter. Clarius Group LLC now owns 18,505 shares of the company’s stock valued at $1,914,000 after acquiring an additional 93 shares during the last quarter. Tradewinds Capital Management LLC lifted its position in shares of Novo Nordisk A/S by 2.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 4,955 shares of the company’s stock worth $513,000 after buying an additional 95 shares in the last quarter. 9258 Wealth Management LLC boosted its stake in Novo Nordisk A/S by 4.0% during the fourth quarter. 9258 Wealth Management LLC now owns 2,513 shares of the company’s stock valued at $260,000 after buying an additional 97 shares during the last quarter. Relyea Zuckerberg Hanson LLC grew its holdings in Novo Nordisk A/S by 3.2% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 3,159 shares of the company’s stock valued at $327,000 after buying an additional 99 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its stake in Novo Nordisk A/S by 3.5% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 2,960 shares of the company’s stock worth $306,000 after acquiring an additional 100 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO traded down $0.97 during midday trading on Friday, reaching $123.05. 5,932,926 shares of the company’s stock traded hands, compared to its average volume of 3,905,318. The company has a market cap of $552.19 billion, a P/E ratio of 42.43, a PEG ratio of 2.06 and a beta of 0.43. The company has a fifty day simple moving average of $127.20 and a two-hundred day simple moving average of $112.93. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.64 and a current ratio of 0.82. Novo Nordisk A/S has a 1 year low of $75.56 and a 1 year high of $138.28.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.14 billion. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 92.21%. Equities analysts predict that Novo Nordisk A/S will post 3.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NVO. UBS Group started coverage on Novo Nordisk A/S in a report on Tuesday, January 16th. They issued a “neutral” rating for the company. BMO Capital Markets started coverage on Novo Nordisk A/S in a report on Friday, April 12th. They set an “outperform” rating and a $163.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, April 18th. Finally, Morgan Stanley assumed coverage on Novo Nordisk A/S in a report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average target price of $133.60.

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.