M&T Bank Corp lifted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 3.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,316 shares of the company’s stock after buying an additional 1,334 shares during the period. M&T Bank Corp’s holdings in Novo Nordisk A/S were worth $1,956,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Comerica Securities Inc. increased its stake in Novo Nordisk A/S by 12.0% during the 4th quarter. Comerica Securities Inc. now owns 11,443 shares of the company’s stock worth $527,000 after purchasing an additional 1,223 shares in the last quarter. Quantamental Technologies LLC bought a new stake in Novo Nordisk A/S during the 1st quarter worth approximately $41,000. Janus Henderson Group PLC increased its stake in Novo Nordisk A/S by 11.4% during the 1st quarter. Janus Henderson Group PLC now owns 247,811 shares of the company’s stock worth $12,963,000 after purchasing an additional 25,382 shares in the last quarter. HL Financial Services LLC increased its stake in Novo Nordisk A/S by 3.8% during the 1st quarter. HL Financial Services LLC now owns 12,004 shares of the company’s stock worth $628,000 after purchasing an additional 444 shares in the last quarter. Finally, Cornerstone Advisors Inc. increased its stake in Novo Nordisk A/S by 33.6% during the 1st quarter. Cornerstone Advisors Inc. now owns 5,689 shares of the company’s stock worth $298,000 after purchasing an additional 1,432 shares in the last quarter. 7.07% of the stock is currently owned by institutional investors.
NYSE:NVO traded down $0.20 during trading hours on Friday, reaching $52.55. 1,242,598 shares of the stock were exchanged, compared to its average volume of 1,277,907. Novo Nordisk A/S has a twelve month low of $41.23 and a twelve month high of $53.55. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.04 and a quick ratio of 0.73. The firm has a 50 day moving average of $50.51 and a 200 day moving average of $49.90. The stock has a market cap of $124.91 billion, a PE ratio of 20.85, a PEG ratio of 2.25 and a beta of 0.57.
Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Friday, August 9th. The company reported $0.61 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.61. Novo Nordisk A/S had a return on equity of 75.16% and a net margin of 32.16%. The firm had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.41 billion. Equities research analysts anticipate that Novo Nordisk A/S will post 2.45 earnings per share for the current year.
The company also recently declared a Semi-Annual dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were given a dividend of $0.318 per share. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 25.40%.
NVO has been the subject of a number of research reports. Deutsche Bank cut Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $52.42 target price for the company. in a research note on Thursday, June 20th. UBS Group reissued a “buy” rating and set a $355.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, June 19th. Barclays raised Novo Nordisk A/S from an “underweight” rating to an “equal weight” rating and set a $51.85 target price for the company in a research note on Tuesday, June 11th. Pareto Securities raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Finally, Zacks Investment Research raised Novo Nordisk A/S from a “sell” rating to a “hold” rating and set a $50.00 target price for the company in a research note on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. Novo Nordisk A/S has a consensus rating of “Hold” and an average target price of $111.58.
About Novo Nordisk A/S
Novo Nordisk A/S, a healthcare company, engages in the development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.
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