Connor Clark & Lunn Investment Management Ltd. Decreases Stock Position in Novo Nordisk A/S (NYSE:NVO)

Connor Clark & Lunn Investment Management Ltd. lessened its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 58.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,859 shares of the company's stock after selling 33,618 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Novo Nordisk A/S were worth $1,657,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Strategic Investment Solutions Inc. IL lifted its position in shares of Novo Nordisk A/S by 2,727.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company's stock valued at $27,000 after acquiring an additional 300 shares in the last quarter. Copeland Capital Management LLC lifted its position in shares of Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after acquiring an additional 255 shares in the last quarter. North Capital Inc. purchased a new position in shares of Novo Nordisk A/S in the first quarter valued at approximately $27,000. Park Square Financial Group LLC purchased a new position in Novo Nordisk A/S during the fourth quarter worth approximately $29,000. Finally, Transce3nd LLC purchased a new position in Novo Nordisk A/S during the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Price Performance

NVO stock opened at $52.43 on Friday. The business has a fifty day moving average of $64.96 and a two-hundred day moving average of $70.44. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The stock has a market cap of $234.10 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 1.75 and a beta of 0.63. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $139.74.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The company had revenue of $11.69 billion during the quarter, compared to analysts' expectations of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. As a group, research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th will be paid a $0.4119 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S's payout ratio is presently 45.05%.

Analyst Ratings Changes

A number of equities analysts recently commented on NVO shares. UBS Group downgraded Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 5th. Wall Street Zen downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. BNP Paribas upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research report on Wednesday. BNP Paribas Exane upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price objective on the stock in a research report on Wednesday. Finally, Barclays reiterated an "equal weight" rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $83.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.