Bank of Montreal Can Decreases Stock Position in Novo Nordisk A/S (NYSE:NVO)

Bank of Montreal Can cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 13.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,200,307 shares of the company’s stock after selling 188,294 shares during the period. Bank of Montreal Can’s holdings in Novo Nordisk A/S were worth $176,421,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Evergreen Capital Management LLC lifted its holdings in Novo Nordisk A/S by 6.2% in the 2nd quarter. Evergreen Capital Management LLC now owns 29,307 shares of the company’s stock valued at $4,183,000 after purchasing an additional 1,710 shares in the last quarter. Steel Grove Capital Advisors LLC increased its position in Novo Nordisk A/S by 2.3% during the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock worth $541,000 after purchasing an additional 86 shares in the last quarter. Harmony Asset Management LLC grew its position in Novo Nordisk A/S by 5.2% in the second quarter. Harmony Asset Management LLC now owns 60,827 shares of the company’s stock valued at $8,682,000 after acquiring an additional 3,002 shares in the last quarter. Cyrus J. Lawrence LLC grew its position in Novo Nordisk A/S by 1.1% in the second quarter. Cyrus J. Lawrence LLC now owns 64,018 shares of the company’s stock valued at $9,137,000 after acquiring an additional 687 shares in the last quarter. Finally, DRW Securities LLC acquired a new stake in Novo Nordisk A/S in the second quarter valued at approximately $1,298,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NVO. Argus increased their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, September 16th. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 18th. Finally, The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target on the stock. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Stock Down 3.0 %

Shares of NYSE NVO opened at $123.71 on Tuesday. The stock has a market cap of $555.15 billion, a PE ratio of 42.66, a PEG ratio of 1.48 and a beta of 0.42. The business has a fifty day moving average of $132.78 and a two-hundred day moving average of $133.23. Novo Nordisk A/S has a 52-week low of $86.96 and a 52-week high of $148.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. As a group, equities research analysts expect that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were issued a dividend of $0.5126 per share. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

Novo Nordisk A/S 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.