Scotia Capital Inc. Reduces Position in Novo Nordisk A/S (NYSE:NVO)

Scotia Capital Inc. lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 18.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,612 shares of the company’s stock after selling 18,402 shares during the period. Scotia Capital Inc.’s holdings in Novo Nordisk A/S were worth $4,065,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Renaissance Technologies LLC grew its stake in Novo Nordisk A/S by 5.5% during the 2nd quarter. Renaissance Technologies LLC now owns 22,521,916 shares of the company’s stock valued at $1,149,519,000 after acquiring an additional 1,177,000 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Novo Nordisk A/S by 2.2% in the 2nd quarter. Fisher Asset Management LLC now owns 14,901,234 shares of the company’s stock valued at $760,559,000 after buying an additional 321,562 shares during the period. Fayez Sarofim & Co grew its stake in shares of Novo Nordisk A/S by 0.3% in the 2nd quarter. Fayez Sarofim & Co now owns 4,484,978 shares of the company’s stock valued at $228,913,000 after buying an additional 13,726 shares during the period. Sustainable Growth Advisers LP grew its stake in shares of Novo Nordisk A/S by 2.5% in the 2nd quarter. Sustainable Growth Advisers LP now owns 3,627,615 shares of the company’s stock valued at $185,153,000 after buying an additional 89,413 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Novo Nordisk A/S by 0.5% in the 1st quarter. Northern Trust Corp now owns 2,330,848 shares of the company’s stock valued at $121,926,000 after buying an additional 11,457 shares during the period. 7.36% of the stock is owned by institutional investors.

Shares of NVO stock traded down $0.16 during trading hours on Friday, hitting $49.51. The company had a trading volume of 28,062 shares, compared to its average volume of 1,305,662. The company’s fifty day moving average is $50.81 and its 200 day moving average is $49.93. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.04 and a quick ratio of 0.73. Novo Nordisk A/S has a fifty-two week low of $41.23 and a fifty-two week high of $53.55. The stock has a market capitalization of $117.45 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 2.11 and a beta of 0.57.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Friday, August 9th. The company reported $0.61 EPS for the quarter, hitting the 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 firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.41 billion. Equities analysts forecast that Novo Nordisk A/S will post 2.45 earnings per share for the current 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 issued a $0.318 dividend. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is currently 25.40%.

Several analysts have recently weighed in on NVO shares. Bank of America reissued a “neutral” rating and issued a $400.00 price target (up previously from $355.00) on shares of Novo Nordisk A/S in a research note on Friday. Jefferies Financial Group cut shares of Novo Nordisk A/S from a “hold” rating to an “underperform” rating in a research note on Friday, August 30th. Barclays raised shares of Novo Nordisk A/S from an “underweight” rating to an “equal weight” rating and set a $51.85 price target for the company in a research note on Tuesday, June 11th. ValuEngine cut shares of Novo Nordisk A/S from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Deutsche Bank cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $52.42 price target for the company. in a research note on Thursday, June 20th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. Novo Nordisk A/S currently has an average rating of “Hold” and a consensus price target of $159.65.

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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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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