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M&T Bank Corp Has $17.44 Million Stock Position in Novo Nordisk A/S (NYSE:NVO)

Novo Nordisk A/S logo with Medical background

M&T Bank Corp trimmed its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 33.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NVO. GQG Partners LLC grew its position in Novo Nordisk A/S by 74.7% during the fourth quarter. GQG Partners LLC now owns 12,994,533 shares of the company's stock worth $1,117,790,000 after buying an additional 5,556,460 shares during the period. Loomis Sayles & Co. L P grew its position in Novo Nordisk A/S by 34.2% during the fourth quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company's stock worth $995,397,000 after buying an additional 2,947,771 shares during the period. Nuveen Asset Management LLC grew its position in Novo Nordisk A/S by 73.2% during the fourth quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company's stock worth $537,189,000 after buying an additional 2,639,693 shares during the period. Two Sigma Investments LP acquired a new position in Novo Nordisk A/S during the fourth quarter worth about $158,657,000. Finally, Clearbridge Investments LLC grew its position in Novo Nordisk A/S by 59.8% during the fourth quarter. Clearbridge Investments LLC now owns 4,283,317 shares of the company's stock worth $368,451,000 after buying an additional 1,602,549 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on NVO shares. Wall Street Zen raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Kepler Capital Markets raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. Hsbc Global Res raised shares of Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, April 28th. Guggenheim downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Finally, BNP Paribas initiated coverage on shares of Novo Nordisk A/S in a research note on Tuesday, April 15th. They set an "underperform" rating on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $112.00.

Get Our Latest Report on Novo Nordisk A/S

Novo Nordisk A/S Stock Up 2.0%

NVO traded up $1.37 on Thursday, reaching $71.06. 6,372,154 shares of the company traded hands, compared to its average volume of 7,305,346. The stock's 50 day moving average price is $70.25 and its 200-day moving average price is $75.33. Novo Nordisk A/S has a 52-week low of $57.00 and a 52-week high of $143.49. The company has a market cap of $317.26 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 1.36 and a beta of 0.64. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.74 and a quick ratio of 0.56.

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

Novo Nordisk A/S Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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