Midwest Trust Co Acquires New Shares in Novo Nordisk A/S $NVO

Midwest Trust Co purchased a new stake in Novo Nordisk A/S (NYSE:NVO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,680 shares of the company’s stock, valued at approximately $599,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. First Hawaiian Bank increased its stake in shares of Novo Nordisk A/S by 0.6% in the first quarter. First Hawaiian Bank now owns 22,401 shares of the company’s stock valued at $1,556,000 after buying an additional 142 shares during the period. Anchor Investment Management LLC raised its position in Novo Nordisk A/S by 1.1% during the 1st quarter. Anchor Investment Management LLC now owns 13,597 shares of the company’s stock worth $944,000 after purchasing an additional 150 shares during the last quarter. Xponance Inc. increased its stake in shares of Novo Nordisk A/S by 5.0% in the first quarter. Xponance Inc. now owns 3,314 shares of the company’s stock valued at $230,000 after buying an additional 158 shares during the period. Foster Dykema Cabot & Partners LLC lifted its stake in shares of Novo Nordisk A/S by 3.8% in the first quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company’s stock worth $319,000 after acquiring an additional 166 shares during the period. Finally, Werba Rubin Papier Wealth Management raised its holdings in Novo Nordisk A/S by 4.1% during the 2nd quarter. Werba Rubin Papier Wealth Management now owns 4,378 shares of the company’s stock worth $302,000 after purchasing an additional 173 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on NVO. 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. UBS Group cut Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a report on Tuesday, August 5th. Berenberg Bank upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Wednesday, September 17th. Morgan Stanley downgraded shares of Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and dropped their target price for the company from $59.00 to $47.00 in a research report on Monday, September 29th. Finally, HSBC set a $70.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Novo Nordisk A/S currently has an average rating of “Hold” and a consensus target price of $59.20.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $49.21 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The stock has a market cap of $219.72 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 2.33 and a beta of 0.65. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $112.52. The stock’s fifty day simple moving average is $54.96 and its two-hundred day simple moving average is $61.30.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.25. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The company had revenue of $11.74 billion for the quarter, compared to analysts’ expectations of $11.98 billion. Novo Nordisk A/S has set its FY 2025 guidance at EPS. As a group, analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

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.