Canal Capital Management LLC Has $911,000 Stake in Novo Nordisk A/S (NYSE:NVO)

Canal Capital Management LLC cut its position in shares of Novo Nordisk A/S (NYSE:NVO) by 1.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,654 shares of the company’s stock after selling 110 shares during the quarter. Canal Capital Management LLC’s holdings in Novo Nordisk A/S were worth $911,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NVO. 1620 Investment Advisors Inc. bought a new stake in Novo Nordisk A/S in the second quarter valued at $25,000. Gilliland Jeter Wealth Management LLC raised its position in shares of Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in shares of Novo Nordisk A/S in the 2nd quarter worth $25,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in Novo Nordisk A/S during the 1st quarter valued at $26,000. Finally, Orion Capital Management LLC acquired a new position in Novo Nordisk A/S during the first quarter worth $26,000. Institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, BMO Capital Markets lowered their price target on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $144.50.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $113.91 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. Novo Nordisk A/S has a one year low of $92.94 and a one year high of $148.15. The business’s 50 day simple moving average is $127.52 and its two-hundred day simple moving average is $131.50. The stock has a market capitalization of $511.17 billion, a P/E ratio of 39.02, a price-to-earnings-growth ratio of 1.52 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.06). The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. Analysts forecast that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were issued a dividend of $0.5126 per share. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.66%.

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.