Novo Nordisk A/S $NVO Shares Bought by Truist Financial Corp

Truist Financial Corp boosted its stake in Novo Nordisk A/S (NYSE:NVO) by 18.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 780,746 shares of the company’s stock after buying an additional 119,098 shares during the period. Truist Financial Corp’s holdings in Novo Nordisk A/S were worth $43,324,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. True Wealth Design LLC boosted its holdings in Novo Nordisk A/S by 209.8% in the third quarter. True Wealth Design LLC now owns 443 shares of the company’s stock worth $25,000 after purchasing an additional 300 shares during the period. NewSquare Capital LLC lifted its position in shares of Novo Nordisk A/S by 174.1% in the 2nd quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock worth $31,000 after buying an additional 282 shares during the last quarter. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at about $37,000. Copeland Capital Management LLC grew its position in shares of Novo Nordisk A/S by 47.3% during the 2nd quarter. Copeland Capital Management LLC now owns 579 shares of the company’s stock valued at $40,000 after buying an additional 186 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in Novo Nordisk A/S during the third quarter worth about $39,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NVO. Zacks Research upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Argus reaffirmed a “hold” rating on shares of Novo Nordisk A/S in a research report on Monday, December 8th. BMO Capital Markets set a $57.00 price target on shares of Novo Nordisk A/S in a report on Monday. Citigroup started coverage on shares of Novo Nordisk A/S in a report on Tuesday. They issued a “neutral” rating on the stock. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Novo Nordisk A/S in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $57.79.

Novo Nordisk A/S Price Performance

NYSE NVO opened at $59.30 on Friday. Novo Nordisk A/S has a 1 year low of $43.08 and a 1 year high of $93.80. The business’s fifty day moving average is $53.20 and its two-hundred day moving average is $54.57. The stock has a market capitalization of $264.77 billion, a P/E ratio of 17.24 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.78.

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

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.