Ledyard National Bank Decreases Stock Position in Novo Nordisk A/S $NVO

Ledyard National Bank lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 18.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,543 shares of the company’s stock after selling 779 shares during the quarter. Ledyard National Bank’s holdings in Novo Nordisk A/S were worth $245,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NVO. Revolve Wealth Partners LLC grew its stake in shares of Novo Nordisk A/S by 8.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock valued at $214,000 after buying an additional 200 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Novo Nordisk A/S by 369.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 97,847 shares of the company’s stock valued at $6,657,000 after buying an additional 76,994 shares during the last quarter. Mather Group LLC. grew its stake in shares of Novo Nordisk A/S by 6.2% during the first quarter. Mather Group LLC. now owns 5,933 shares of the company’s stock valued at $412,000 after buying an additional 345 shares during the last quarter. Cannon Advisors Inc. grew its stake in shares of Novo Nordisk A/S by 5.6% during the first quarter. Cannon Advisors Inc. now owns 3,948 shares of the company’s stock valued at $274,000 after buying an additional 209 shares during the last quarter. Finally, Resonant Capital Advisors LLC grew its stake in shares of Novo Nordisk A/S by 15.3% during the first quarter. Resonant Capital Advisors LLC now owns 7,842 shares of the company’s stock valued at $554,000 after buying an additional 1,038 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NVO opened at $50.03 on Friday. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $113.02. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The business’s fifty day simple moving average is $56.32 and its 200-day simple moving average is $62.05. The company has a market capitalization of $223.38 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 2.33 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The business had revenue of $11.69 billion for the quarter, compared to the consensus estimate of $77.51 billion. On average, equities research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were given a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio (DPR) is 22.53%.

Wall Street Analyst Weigh In

NVO has been the topic of a number of analyst reports. Zacks Research raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Jefferies Financial Group initiated coverage on Novo Nordisk A/S in a research note on Monday. They set an “underperform” rating on the stock. Berenberg Bank raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Wednesday, September 17th. TD Cowen dropped their price objective on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, August 19th. Finally, UBS Group cut Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Hold” and a consensus price target of $76.00.

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.