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

Canandaigua National Bank & Trust Co. decreased its stake in Novo Nordisk A/S (NYSE:NVO) by 4.3% in the third quarter, according to the company in its most recent 13F filing 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 reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 1620 Investment Advisors Inc. bought a new position in Novo Nordisk A/S in the 2nd quarter valued at $25,000. Gilliland Jeter Wealth Management LLC grew its position 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 valued at $26,000 after acquiring an additional 120 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Novo Nordisk A/S in the 2nd quarter valued at $25,000. First PREMIER Bank bought a new position in Novo Nordisk A/S in the 1st quarter valued at $25,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Novo Nordisk A/S in the 1st quarter worth $26,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on NVO. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Argus upped their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. BMO Capital Markets lowered their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday, September 16th. One 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, Novo Nordisk A/S presently has an average rating of “Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Stock Up 0.0 %

Shares of NYSE NVO traded up $0.04 during mid-day trading on Friday, reaching $115.12. 6,310,401 shares of the company were exchanged, compared to its average volume of 4,338,705. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The stock 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. Novo Nordisk A/S has a 1 year low of $87.02 and a 1 year high of $148.15. The firm has a 50-day moving average of $130.59 and a 200 day moving average of $132.41.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $9.91 billion. On average, research analysts expect that Novo Nordisk A/S will post 3.11 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given a dividend of $0.5126 per share. This represents a yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is currently 24.83%.

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.