Novo Nordisk A/S $NVO Shares Sold by Webster Bank N. A.

Webster Bank N. A. lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 25.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,706 shares of the company’s stock after selling 9,931 shares during the period. Webster Bank N. A.’s holdings in Novo Nordisk A/S were worth $2,050,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Canandaigua National Bank & Trust Co. raised its holdings in Novo Nordisk A/S by 42.0% during the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 6,068 shares of the company’s stock worth $419,000 after buying an additional 1,795 shares during the period. Gradient Investments LLC acquired a new stake in Novo Nordisk A/S during the 2nd quarter worth about $890,000. Value Partners Investments Inc. raised its holdings in Novo Nordisk A/S by 39.1% during the 2nd quarter. Value Partners Investments Inc. now owns 125,959 shares of the company’s stock worth $8,695,000 after buying an additional 35,434 shares during the period. Verde Capital Management raised its holdings in Novo Nordisk A/S by 15.2% during the 2nd quarter. Verde Capital Management now owns 42,837 shares of the company’s stock worth $2,957,000 after buying an additional 5,639 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in Novo Nordisk A/S by 46.1% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,356 shares of the company’s stock worth $94,000 after buying an additional 428 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Up 1.2%

NVO opened at $54.94 on Monday. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $138.22. 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 stock has a market capitalization of $245.31 billion, a price-to-earnings ratio of 15.09, a P/E/G ratio of 2.08 and a beta of 0.66. The business has a 50 day moving average of $57.96 and a 200-day moving average of $66.17.

Novo Nordisk A/S (NYSE:NVO) last issued its 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. The business had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analyst Weigh In

NVO has been the topic of several recent analyst reports. BNP Paribas Exane upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price objective on the stock in a report on Wednesday, August 13th. Barclays restated an “equal weight” rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. HSBC downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $57.00 target price on the stock. in a report on Thursday, July 31st. Sanford C. Bernstein upgraded Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 9th. Finally, TD Cowen dropped their target price on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, August 19th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $81.00.

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.