Truist Financial Corp Increases Stake in Novo Nordisk A/S (NYSE:NVO)

Truist Financial Corp boosted its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 16.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 655,208 shares of the company's stock after purchasing an additional 91,974 shares during the quarter. Truist Financial Corp's holdings in Novo Nordisk A/S were worth $45,498,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Eukles Asset Management grew its position in Novo Nordisk A/S by 3.4% during the 1st quarter. Eukles Asset Management now owns 51,312 shares of the company's stock valued at $3,563,000 after purchasing an additional 1,667 shares during the last quarter. Nichols & Pratt Advisers LLP MA grew its position in Novo Nordisk A/S by 0.7% during the 1st quarter. Nichols & Pratt Advisers LLP MA now owns 481,314 shares of the company's stock valued at $33,375,000 after purchasing an additional 3,435 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in Novo Nordisk A/S during the 1st quarter valued at about $237,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Novo Nordisk A/S during the 1st quarter valued at about $39,499,000. Finally, Calamos Wealth Management LLC grew its position in Novo Nordisk A/S by 17.3% during the 1st quarter. Calamos Wealth Management LLC now owns 22,764 shares of the company's stock valued at $1,581,000 after purchasing an additional 3,351 shares during the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

NVO opened at $69.05 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.56 and a current ratio of 0.74. The stock has a market capitalization of $308.31 billion, a P/E ratio of 20.43, a P/E/G ratio of 1.35 and a beta of 0.64. The company's 50-day simple moving average is $69.96 and its two-hundred day simple moving average is $75.52. Novo Nordisk A/S has a 52-week low of $57.00 and a 52-week high of $143.69.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, meeting 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 business had revenue of $11.87 billion for the quarter. As a group, analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Wall Street Analysts Forecast Growth

NVO has been the topic of several recent analyst reports. BNP Paribas initiated coverage on shares of Novo Nordisk A/S in a research report on Tuesday, April 15th. They set an "underperform" rating on the stock. Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. Hsbc Global Res upgraded shares of Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, April 28th. Guggenheim cut shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Finally, Dbs Bank cut shares of Novo Nordisk A/S to a "sell" rating in a research note on Friday, April 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target 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.

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