Royal Bank of Canada Has $378.19 Million Holdings in Novo Nordisk A/S $NVO

Key Points

• The Royal Bank of Canada reduced its stake in Novo Nordisk A/S by 0.3%, owning approximately 5.45 million shares valued at $378.19 million after selling 14,447 shares in the first quarter.
• Analysts have mixed ratings on Novo Nordisk, with three recommending a Buy, twelve a Hold, and one a Sell, and a consensus rating indicating a target price of $81.00.
• As of its latest quarterly report, Novo Nordisk A/S reported an earnings per share of $0.97, surpassing estimates, and generated a revenue of $11.69 billion for the quarter.

Royal Bank of Canada lowered its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 0.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,446,286 shares of the company's stock after selling 14,447 shares during the quarter. Royal Bank of Canada owned about 0.12% of Novo Nordisk A/S worth $378,190,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Graham Capital Management L.P. acquired a new stake in Novo Nordisk A/S during the first quarter worth $1,132,000. Retirement Planning Co of New England Inc. boosted its stake in Novo Nordisk A/S by 5.5% during the first quarter. Retirement Planning Co of New England Inc. now owns 10,601 shares of the company's stock worth $736,000 after buying an additional 552 shares in the last quarter. Baird Financial Group Inc. boosted its stake in Novo Nordisk A/S by 19.6% during the first quarter. Baird Financial Group Inc. now owns 1,035,639 shares of the company's stock worth $71,915,000 after buying an additional 169,762 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its stake in Novo Nordisk A/S by 7.4% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 15,313 shares of the company's stock worth $1,063,000 after buying an additional 1,053 shares in the last quarter. Finally, Activest Wealth Management boosted its stake in Novo Nordisk A/S by 40.6% during the first quarter. Activest Wealth Management now owns 15,142 shares of the company's stock worth $1,051,000 after buying an additional 4,376 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NVO shares. Zacks Research downgraded shares of Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 20th. HSBC cut Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price target for the company. in a research note on Thursday, July 31st. Barclays reaffirmed an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. BNP Paribas Exane raised Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 target price for the company in a research note on Wednesday, August 13th. Finally, UBS Group downgraded Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 5th. Three research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Novo Nordisk A/S presently has a consensus rating of "Hold" and an average price target of $81.00.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock traded down $0.09 during midday trading on Tuesday, reaching $56.37. The company's stock had a trading volume of 11,609,027 shares, compared to its average volume of 11,758,394. The stock has a market cap of $251.69 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 1.96 and a beta of 0.66. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $60.46 and a 200-day moving average price of $68.12. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $138.62.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $11.69 billion for the quarter, compared to analysts' expectations of $77.51 billion. On average, sell-side analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were issued a $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S's dividend payout ratio is presently 22.53%.

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.