Bank of New York Mellon Corp Boosts Stock Position in Novo Nordisk A/S (NYSE:NVO)

Bank of New York Mellon Corp increased its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 6.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 839,802 shares of the company's stock after purchasing an additional 47,804 shares during the period. Bank of New York Mellon Corp's holdings in Novo Nordisk A/S were worth $58,316,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Generali Investments CEE investicni spolecnost a.s. lifted its position in shares of Novo Nordisk A/S by 15.5% in the first quarter. Generali Investments CEE investicni spolecnost a.s. now owns 14,942 shares of the company's stock valued at $1,038,000 after acquiring an additional 2,000 shares in the last quarter. Wayfinding Financial LLC bought a new stake in Novo Nordisk A/S during the 1st quarter valued at approximately $46,000. Olde Wealth Management LLC purchased a new position in Novo Nordisk A/S in the 1st quarter worth approximately $57,000. Truist Financial Corp boosted its stake in Novo Nordisk A/S by 16.3% in the 1st quarter. Truist Financial Corp now owns 655,208 shares of the company's stock worth $45,498,000 after purchasing an additional 91,974 shares during the period. Finally, Eukles Asset Management raised its position in shares of Novo Nordisk A/S by 3.4% during the first quarter. Eukles Asset Management now owns 51,312 shares of the company's stock valued at $3,563,000 after buying an additional 1,667 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Trading Down 0.2%

Shares of Novo Nordisk A/S stock traded down $0.14 on Wednesday, reaching $67.08. The company had a trading volume of 5,591,994 shares, compared to its average volume of 7,340,913. The firm has a market cap of $299.50 billion, a price-to-earnings ratio of 19.85, a P/E/G ratio of 1.33 and a beta of 0.64. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.74 and a quick ratio of 0.56. The firm's 50-day moving average price is $70.37 and its two-hundred day moving average price is $74.73. Novo Nordisk A/S has a 1 year low of $57.00 and a 1 year high of $142.23.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92. Novo Nordisk A/S had a net margin of 34.52% and a return on equity of 80.94%. The company had revenue of $11.87 billion during the quarter. As a group, research analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NVO has been the subject of several research analyst reports. Wall Street Zen raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. BMO Capital Markets restated a "market perform" rating and set a $64.00 price objective (down previously from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Hsbc Global Res raised Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, April 28th. Dbs Bank downgraded Novo Nordisk A/S to a "sell" rating in a research note on Friday, April 25th. Finally, Guggenheim downgraded Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Novo Nordisk A/S currently has a consensus rating of "Hold" and an average target price of $112.00.

About Novo Nordisk A/S

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.