National Bank of Canada FI Has $25.23 Million Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

National Bank of Canada FI cut its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 50.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 363,538 shares of the company's stock after selling 374,483 shares during the period. National Bank of Canada FI's holdings in Novo Nordisk A/S were worth $25,234,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BIP Wealth LLC raised its holdings in Novo Nordisk A/S by 3.9% in the 4th quarter. BIP Wealth LLC now owns 3,642 shares of the company's stock valued at $313,000 after acquiring an additional 138 shares in the last quarter. Xponance Inc. increased its stake in shares of Novo Nordisk A/S by 5.0% in the 1st quarter. Xponance Inc. now owns 3,314 shares of the company's stock valued at $230,000 after purchasing an additional 158 shares during the last quarter. Foster Dykema Cabot & Partners LLC increased its stake in shares of Novo Nordisk A/S by 3.8% in the 1st quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company's stock valued at $319,000 after purchasing an additional 166 shares during the last quarter. 180 Wealth Advisors LLC increased its stake in shares of Novo Nordisk A/S by 3.6% in the 1st quarter. 180 Wealth Advisors LLC now owns 5,014 shares of the company's stock valued at $348,000 after purchasing an additional 173 shares during the last quarter. Finally, LRI Investments LLC increased its stake in shares of Novo Nordisk A/S by 1.4% in the 4th quarter. LRI Investments LLC now owns 13,060 shares of the company's stock valued at $1,123,000 after purchasing an additional 176 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NVO has been the topic of several recent analyst reports. Guggenheim lowered Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. 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. Barclays reiterated an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Hsbc Global Res lowered Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Finally, Dbs Bank lowered Novo Nordisk A/S to a "sell" rating in a research report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Novo Nordisk A/S currently has a consensus rating of "Hold" and a consensus price target of $93.67.

Novo Nordisk A/S Trading Up 4.7%

NYSE NVO opened at $51.06 on Monday. The business's 50-day moving average price is $67.14 and its two-hundred day moving average price is $71.47. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $139.74. The firm has a market capitalization of $227.98 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.75 and a beta of 0.63. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. The firm had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. On average, analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

About Novo Nordisk A/S

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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