M&T Bank Corp Sells 168,447 Shares of Novo Nordisk A/S $NVO

M&T Bank Corp lowered its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 67.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 82,638 shares of the company’s stock after selling 168,447 shares during the period. M&T Bank Corp’s holdings in Novo Nordisk A/S were worth $5,703,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Solidarity Wealth LLC grew its stake in shares of Novo Nordisk A/S by 521.1% in the second quarter. Solidarity Wealth LLC now owns 71,435 shares of the company’s stock worth $4,930,000 after purchasing an additional 59,933 shares during the last quarter. Smith Moore & CO. acquired a new position in Novo Nordisk A/S during the 2nd quarter worth about $202,000. VestGen Advisors LLC grew its position in shares of Novo Nordisk A/S by 6.9% in the 2nd quarter. VestGen Advisors LLC now owns 7,719 shares of the company’s stock valued at $533,000 after buying an additional 497 shares during the last quarter. Greenwich Wealth Management LLC bought a new position in shares of Novo Nordisk A/S during the second quarter worth about $331,000. Finally, Channing Global Advisors LLC raised its position in shares of Novo Nordisk A/S by 42.3% during the second quarter. Channing Global Advisors LLC now owns 15,228 shares of the company’s stock worth $1,051,000 after acquiring an additional 4,530 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NVO stock opened at $47.99 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.57. The company’s 50-day moving average is $51.94 and its 200-day moving average is $59.25. The stock has a market capitalization of $214.28 billion, a PE ratio of 13.95 and a beta of 0.67. Novo Nordisk A/S has a 1 year low of $43.08 and a 1 year high of $112.52.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.25. The business had revenue of $11.79 billion for the quarter, compared to the consensus estimate of $11.98 billion. Novo Nordisk A/S had a return on equity of 73.50% and a net margin of 32.76%. Equities research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on NVO. Hsbc Global Res downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Rothschild Redb raised shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 16th. Dbs Bank upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, August 22nd. BNP Paribas raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 13th. Finally, Rothschild & Co Redburn raised shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $56.00.

About Novo Nordisk A/S

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.