Zions Bancorporation National Association UT Acquires New Holdings in Novo Nordisk A/S (NYSE:NVO)

Zions Bancorporation National Association UT acquired a new stake in Novo Nordisk A/S (NYSE:NVO) during the first quarter, Holdings Channel.com reports. The firm acquired 54,396 shares of the company’s stock, valued at approximately $3,777,000.

A number of other institutional investors have also made changes to their positions in the stock. Truepoint Inc. bought a new position in shares of Novo Nordisk A/S in the 1st quarter valued at approximately $413,000. Brookmont Capital Management grew its holdings in Novo Nordisk A/S by 30.1% in the 1st quarter. Brookmont Capital Management now owns 57,632 shares of the company’s stock valued at $4,002,000 after buying an additional 13,323 shares during the last quarter. Bristlecone Advisors LLC grew its holdings in Novo Nordisk A/S by 102.3% in the 1st quarter. Bristlecone Advisors LLC now owns 24,869 shares of the company’s stock valued at $1,727,000 after buying an additional 12,576 shares during the last quarter. Savvy Advisors Inc. grew its holdings in Novo Nordisk A/S by 68.7% in the 1st quarter. Savvy Advisors Inc. now owns 12,014 shares of the company’s stock valued at $834,000 after buying an additional 4,891 shares during the last quarter. Finally, Hirtle Callaghan & Co LLC acquired a new stake in Novo Nordisk A/S in the 1st quarter valued at approximately $1,289,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $51.06 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The company has a market capitalization of $227.98 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.47 and a beta of 0.63. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $139.74. The business has a 50 day simple moving average of $67.14 and a 200 day simple moving average of $71.60.

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

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be given a dividend of $0.4119 per share. This represents a dividend yield of 240.0%. The ex-dividend date is Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio (DPR) is 45.05%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NVO. HSBC lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $57.00 target price on the stock. in a report on Thursday, July 31st. Guggenheim lowered Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 17th. Hsbc Global Res lowered Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Barclays reaffirmed an “equal weight” rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Finally, Dbs Bank downgraded Novo Nordisk A/S to a “sell” rating in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Hold” and an average price target of $93.67.

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.