M&T Bank Corp Sells 128,573 Shares of Novo Nordisk A/S (NYSE:NVO)

M&T Bank Corp lessened its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 33.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 251,085 shares of the company's stock after selling 128,573 shares during the quarter. M&T Bank Corp's holdings in Novo Nordisk A/S were worth $17,435,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BIP Wealth LLC increased its holdings in Novo Nordisk A/S by 3.9% in the fourth quarter. BIP Wealth LLC now owns 3,642 shares of the company's stock valued at $313,000 after purchasing an additional 138 shares during the last quarter. Xponance Inc. grew its stake in Novo Nordisk A/S by 4.9% in the fourth quarter. Xponance Inc. now owns 3,156 shares of the company's stock valued at $271,000 after acquiring an additional 146 shares during the period. Mystic Asset Management Inc. grew its stake in Novo Nordisk A/S by 1.2% in the fourth quarter. Mystic Asset Management Inc. now owns 13,185 shares of the company's stock valued at $1,134,000 after acquiring an additional 150 shares during the period. Sequoia Financial Advisors LLC grew its stake in Novo Nordisk A/S by 0.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 31,670 shares of the company's stock valued at $2,724,000 after acquiring an additional 151 shares during the period. Finally, Diversified Enterprises LLC grew its stake in Novo Nordisk A/S by 2.8% in the fourth quarter. Diversified Enterprises LLC now owns 6,388 shares of the company's stock valued at $549,000 after acquiring an additional 172 shares during the period. Institutional investors own 11.54% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NVO. BMO Capital Markets reissued a "market perform" rating and issued a $64.00 target price (down from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Dbs Bank cut Novo Nordisk A/S to a "sell" rating in a research note on Friday, April 25th. BNP Paribas began coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an "underperform" rating for the company. Guggenheim cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Finally, Hsbc Global Res raised Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of "Hold" and a consensus price target of $112.00.

Novo Nordisk A/S Stock Down 2.9%

Shares of NVO stock traded down $2.08 on Friday, hitting $68.93. 6,511,310 shares of the stock were exchanged, compared to its average volume of 7,316,084. The company has a current ratio of 0.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $307.77 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 1.38 and a beta of 0.64. The business has a 50-day moving average of $70.35 and a 200 day moving average of $75.08. Novo Nordisk A/S has a fifty-two week low of $57.00 and a fifty-two week high of $143.49.

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

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.