Novo Nordisk A/S (NYSE:NVO) Stock Holdings Lessened by Toronto Dominion Bank

Toronto Dominion Bank lowered its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 5.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,721 shares of the company’s stock after selling 1,857 shares during the quarter. Toronto Dominion Bank’s holdings in Novo Nordisk A/S were worth $4,956,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NVO. 1620 Investment Advisors Inc. acquired a new position in shares of Novo Nordisk A/S during the second quarter valued at $25,000. Gilliland Jeter Wealth Management LLC lifted its stake in Novo Nordisk A/S by 200.0% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after acquiring an additional 120 shares in the last quarter. First PREMIER Bank acquired a new stake in shares of Novo Nordisk A/S during the first quarter worth approximately $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at $26,000. Finally, Orion Capital Management LLC purchased 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.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO opened at $120.76 on Monday. 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. The stock has a 50 day moving average price of $131.97 and a 200 day moving average price of $132.98. The stock has a market capitalization of $541.91 billion, a PE ratio of 41.64, a price-to-earnings-growth ratio of 1.35 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Analysts predict 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 declared a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were paid a $0.5126 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s payout ratio is 24.83%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, September 16th. Argus increased their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. BMO Capital Markets lowered 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 report on Thursday, August 8th. Finally, StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 18th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $145.17.

Novo Nordisk A/S Company 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.