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

National Bank of Canada FI decreased its stake in Novo Nordisk A/S (NYSE:NVO) by 40.9% during the 2nd quarter, HoldingsChannel reports. The fund 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 filing with the Securities and Exchange Commission.

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

Novo Nordisk A/S Stock Down 2.7 %

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

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share 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 the consensus estimate of $9.91 billion. Equities research analysts anticipate that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Upgrades and Downgrades

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