Bank of Montreal Can Raises Holdings in Novo Nordisk A/S $NVO

Bank of Montreal Can grew its position in shares of Novo Nordisk A/S (NYSE:NVO) by 101.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,475,300 shares of the company’s stock after purchasing an additional 1,246,467 shares during the period. Bank of Montreal Can owned approximately 0.06% of Novo Nordisk A/S worth $170,845,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in NVO. Stone House Investment Management LLC bought a new position in shares of Novo Nordisk A/S in the 1st quarter valued at about $30,000. Disciplina Capital Management LLC lifted its holdings in shares of Novo Nordisk A/S by 162.3% in the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock valued at $33,000 after acquiring an additional 297 shares during the last quarter. Dagco Inc. bought a new position in shares of Novo Nordisk A/S in the 1st quarter valued at about $35,000. Mid American Wealth Advisory Group Inc. bought a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at about $37,000. Finally, State of Wyoming bought a new position in shares of Novo Nordisk A/S in the 1st quarter valued at about $38,000. Institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on NVO shares. Zacks Research raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 9th. TD Cowen lowered their price target on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, August 19th. BNP Paribas Exane raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price objective for the company in a research note on Wednesday, August 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Novo Nordisk A/S in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $76.00.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $49.11 on Tuesday. The firm has a market cap of $219.26 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 2.33 and a beta of 0.68. The company’s 50 day moving average is $56.03 and its 200 day moving average is $61.85. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $112.52.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The company had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. On average, sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were issued a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 22.53%.

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.