Scotia Capital Inc. Sells 73,581 Shares of Novo Nordisk A/S (NYSE:NVO)

Key Points

• Scotia Capital Inc. reduced its stake in Novo Nordisk A/S by 25.7% in Q1, selling 73,581 shares and holding a total of 212,210 shares as of the latest SEC filing.
• Several institutional investors, including Banco Santander S.A. and Liberty Wealth Management LLC, have made significant changes to their positions in Novo Nordisk, indicating increased interest and activity in the stock.
• Novo Nordisk A/S has seen its stock rise by 2.5%, with a current market capitalization of $215.35 billion and a consensus rating of "Hold" from analysts.

Scotia Capital Inc. trimmed its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 25.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 212,210 shares of the company's stock after selling 73,581 shares during the period. Scotia Capital Inc.'s holdings in Novo Nordisk A/S were worth $14,736,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Liberty Wealth Management LLC bought a new stake in Novo Nordisk A/S in the 1st quarter valued at about $2,005,000. Banco Santander S.A. raised its stake in Novo Nordisk A/S by 75.8% in the 1st quarter. Banco Santander S.A. now owns 128,391 shares of the company's stock valued at $8,915,000 after acquiring an additional 55,358 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its stake in Novo Nordisk A/S by 44.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 29,480 shares of the company's stock valued at $2,063,000 after acquiring an additional 9,104 shares during the period. Mirabaud & Cie SA bought a new stake in Novo Nordisk A/S in the 1st quarter valued at about $531,000. Finally, Moors & Cabot Inc. raised its stake in Novo Nordisk A/S by 10.7% in the 1st quarter. Moors & Cabot Inc. now owns 6,875 shares of the company's stock valued at $477,000 after acquiring an additional 663 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Up 2.5%

Shares of NYSE NVO opened at $48.23 on Monday. Novo Nordisk A/S has a 12 month low of $46.90 and a 12 month high of $139.74. 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 $215.35 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.46 and a beta of 0.63. The business has a 50-day moving average of $69.26 and a 200-day moving average of $72.58.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 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 company had revenue of $11.87 billion during the quarter. Sell-side analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. BNP Paribas assumed coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an "underperform" rating on the stock. Guggenheim lowered Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Wall Street Zen lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday. HSBC lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 target price for the company. in a report on Thursday. Finally, Hsbc Global Res lowered Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $93.67.

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.

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