Canandaigua National Bank & Trust Co. Sells 8,296 Shares of Novo Nordisk A/S (NYSE:NVO)

Canandaigua National Bank & Trust Co. decreased its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 66.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,273 shares of the company's stock after selling 8,296 shares during the quarter. Canandaigua National Bank & Trust Co.'s holdings in Novo Nordisk A/S were worth $297,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Bank of America Corp DE boosted its holdings in Novo Nordisk A/S by 8.1% in the fourth quarter. Bank of America Corp DE now owns 15,492,384 shares of the company's stock worth $1,332,655,000 after purchasing an additional 1,165,955 shares in the last quarter. GQG Partners LLC boosted its stake in shares of Novo Nordisk A/S by 74.7% during the 4th quarter. GQG Partners LLC now owns 12,994,533 shares of the company's stock worth $1,117,790,000 after acquiring an additional 5,556,460 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in shares of Novo Nordisk A/S by 34.2% during the 4th quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company's stock worth $995,397,000 after acquiring an additional 2,947,771 shares in the last quarter. Folketrygdfondet increased its holdings in shares of Novo Nordisk A/S by 0.5% during the 4th quarter. Folketrygdfondet now owns 8,903,938 shares of the company's stock valued at $765,917,000 after acquiring an additional 40,313 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Novo Nordisk A/S by 1.5% in the 4th quarter. Renaissance Technologies LLC now owns 8,312,996 shares of the company's stock valued at $715,084,000 after acquiring an additional 123,681 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on NVO shares. BMO Capital Markets reiterated a "market perform" rating and set a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Wall Street Zen upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Guggenheim downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Dbs Bank cut shares of Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. Finally, BNP Paribas initiated coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an "underperform" rating on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $112.00.

Novo Nordisk A/S Price Performance

NVO traded down $0.68 during midday trading on Thursday, reaching $69.14. 4,041,787 shares of the company's stock were exchanged, compared to its average volume of 9,357,179. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 0.70. The business has a 50-day simple moving average of $69.69 and a two-hundred day simple moving average of $76.46. The firm has a market capitalization of $308.71 billion, a price-to-earnings ratio of 20.46, a price-to-earnings-growth ratio of 1.24 and a beta of 0.64. Novo Nordisk A/S has a one year low of $57.00 and a one year high of $143.69.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.92. The business had revenue of $11.87 billion during the quarter. Novo Nordisk A/S had a return on equity of 80.94% and a net margin of 34.52%. As a group, research analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

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.