Zions Bancorporation National Association UT Has $2 Million Stock Position in Novo Nordisk A/S $NVO

Zions Bancorporation National Association UT lessened its holdings in Novo Nordisk A/S (NYSE:NVO) by 45.7% during the third quarter, HoldingsChannel reports. The fund owned 36,059 shares of the company’s stock after selling 30,370 shares during the quarter. Zions Bancorporation National Association UT’s holdings in Novo Nordisk A/S were worth $2,001,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. SG Americas Securities LLC raised its stake in shares of Novo Nordisk A/S by 2,101.5% in the third quarter. SG Americas Securities LLC now owns 2,383,176 shares of the company’s stock worth $132,242,000 after purchasing an additional 2,274,925 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Novo Nordisk A/S by 101.4% during the second quarter. Bank of Montreal Can now owns 2,475,300 shares of the company’s stock valued at $170,845,000 after buying an additional 1,246,467 shares during the last quarter. DAVENPORT & Co LLC grew its holdings in Novo Nordisk A/S by 54.8% during the third quarter. DAVENPORT & Co LLC now owns 2,642,498 shares of the company’s stock worth $146,644,000 after buying an additional 935,468 shares in the last quarter. Sustainable Growth Advisers LP raised its position in Novo Nordisk A/S by 11.7% in the 2nd quarter. Sustainable Growth Advisers LP now owns 6,192,636 shares of the company’s stock valued at $427,416,000 after buying an additional 649,390 shares during the last quarter. Finally, Baird Financial Group Inc. raised its position in Novo Nordisk A/S by 42.6% in the 2nd quarter. Baird Financial Group Inc. now owns 1,476,673 shares of the company’s stock valued at $101,920,000 after buying an additional 441,034 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 1.4%

Shares of NVO stock opened at $49.59 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 0.80 and a debt-to-equity ratio of 0.61. The firm has a market cap of $221.43 billion, a P/E ratio of 14.29 and a beta of 0.67. The company has a 50 day moving average of $53.80 and a 200-day moving average of $53.26. Novo Nordisk A/S has a 12-month low of $43.08 and a 12-month high of $93.80.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Tuesday, February 3rd. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.11. Novo Nordisk A/S had a return on equity of 68.91% and a net margin of 33.03%.The business had revenue of $12.43 billion during the quarter, compared to analyst estimates of $11.97 billion. Sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Wednesday, April 8th. Investors of record on Monday, March 30th will be issued a $1.2751 dividend. The ex-dividend date of this dividend is Monday, March 30th. This represents a yield of 541.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 23.63%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NVO. Zacks Research lowered shares of Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. Morgan Stanley restated an “underweight” rating and set a $42.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, December 3rd. Citigroup began coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 27th. They issued a “neutral” rating for the company. CICC Research started coverage on Novo Nordisk A/S in a research note on Friday, January 9th. They issued an “outperform” rating and a $73.50 target price on the stock. Finally, Jefferies Financial Group raised Novo Nordisk A/S from an “underperform” rating to a “hold” rating in a report on Thursday. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Novo Nordisk A/S presently has an average rating of “Hold” and a consensus target price of $56.07.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.