Scotia Capital Inc. trimmed its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 18.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,612 shares of the company’s stock after selling 18,402 shares during the quarter. Scotia Capital Inc.’s holdings in Novo Nordisk A/S were worth $4,065,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of NVO. Advisors Preferred LLC purchased a new position in Novo Nordisk A/S in the second quarter worth $26,000. TCG Advisors LP purchased a new position in Novo Nordisk A/S in the first quarter worth $27,000. Valeo Financial Advisors LLC grew its holdings in Novo Nordisk A/S by 510.7% in the second quarter. Valeo Financial Advisors LLC now owns 629 shares of the company’s stock worth $32,000 after purchasing an additional 526 shares during the last quarter. Quantamental Technologies LLC purchased a new position in Novo Nordisk A/S in the first quarter worth $41,000. Finally, Bremer Bank National Association purchased a new position in Novo Nordisk A/S in the first quarter worth $41,000. 7.36% of the stock is currently owned by institutional investors.
Several research firms have issued reports on NVO. UBS Group reaffirmed a “buy” rating and issued a $355.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, June 19th. Barclays raised shares of Novo Nordisk A/S from an “underweight” rating to an “equal weight” rating and set a $51.85 price target on the stock in a report on Tuesday, June 11th. Bank of America reaffirmed a “neutral” rating and issued a $400.00 price target (up from $355.00) on shares of Novo Nordisk A/S in a report on Friday. Zacks Investment Research raised shares of Novo Nordisk A/S from a “sell” rating to a “hold” rating and set a $50.00 price target on the stock in a report on Monday, July 15th. Finally, Pareto Securities upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Novo Nordisk A/S presently has a consensus rating of “Hold” and an average target price of $159.65.
Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Friday, August 9th. The company reported $0.61 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. Novo Nordisk A/S had a net margin of 32.16% and a return on equity of 75.16%. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.41 billion. On average, equities analysts predict that Novo Nordisk A/S will post 2.45 EPS for the current fiscal year.
The business also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were paid a dividend of $0.318 per share. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s payout ratio is currently 25.40%.
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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