Canandaigua National Bank & Trust Co. Reduces Position in Novo Nordisk A/S (NYSE:NVO)

Canandaigua National Bank & Trust Co. decreased its position in Novo Nordisk A/S (NYSE:NVO) by 4.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,599 shares of the company’s stock after selling 565 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Novo Nordisk A/S were worth $1,500,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. First PREMIER Bank bought a new position in Novo Nordisk A/S in the first quarter valued at about $25,000. 1620 Investment Advisors Inc. bought a new position in Novo Nordisk A/S in the second quarter valued at about $25,000. Strategic Investment Solutions Inc. IL bought a new position in Novo Nordisk A/S in the second quarter valued at about $25,000. Dixon Mitchell Investment Counsel Inc. bought a new position in Novo Nordisk A/S in the first quarter valued at about $26,000. Finally, Orion Capital Management LLC bought a new position in Novo Nordisk A/S in the first quarter valued at about $26,000. Institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on NVO. BMO Capital Markets decreased 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. Argus raised their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, September 16th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Novo Nordisk A/S has an average rating of “Buy” and an average target price of $145.17.

Novo Nordisk A/S Price Performance

NVO traded up $0.04 on Friday, hitting $115.12. 6,310,401 shares of the company’s stock traded hands, compared to its average volume of 4,338,705. The firm has a market cap of $516.60 billion, a price-to-earnings ratio of 39.69, a P/E/G ratio of 1.35 and a beta of 0.42. The company’s 50 day simple moving average is $130.59 and its 200-day simple moving average is $132.41. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a one year low of $87.02 and a one year high of $148.15.

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

Novo Nordisk A/S Cuts Dividend

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