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

Truist Financial Corp grew its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 16.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in Novo Nordisk A/S by 8.1% during the fourth quarter. Bank of America Corp DE now owns 15,492,384 shares of the company's stock worth $1,332,655,000 after buying an additional 1,165,955 shares during the period. GQG Partners LLC increased its position in Novo Nordisk A/S by 74.7% during the fourth quarter. GQG Partners LLC now owns 12,994,533 shares of the company's stock worth $1,117,790,000 after buying an additional 5,556,460 shares during the period. Loomis Sayles & Co. L P increased its position in Novo Nordisk A/S by 34.2% during the fourth quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company's stock worth $995,397,000 after buying an additional 2,947,771 shares during the period. Folketrygdfondet increased its position in Novo Nordisk A/S by 0.5% during the fourth quarter. Folketrygdfondet now owns 8,903,938 shares of the company's stock worth $765,917,000 after buying an additional 40,313 shares during the period. Finally, Renaissance Technologies LLC increased its position in Novo Nordisk A/S by 1.5% during the fourth quarter. Renaissance Technologies LLC now owns 8,312,996 shares of the company's stock worth $715,084,000 after buying an additional 123,681 shares during the period. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Stock Performance

NYSE:NVO traded up $0.14 during mid-day trading on Monday, reaching $69.31. The stock had a trading volume of 7,307,060 shares, compared to its average volume of 7,260,981. 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 firm has a market capitalization of $309.47 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 1.35 and a beta of 0.64. Novo Nordisk A/S has a twelve month low of $57.00 and a twelve month high of $143.69. The business has a 50 day simple moving average of $69.96 and a 200 day simple moving average of $75.52.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, meeting analysts' consensus estimates of $0.92. Novo Nordisk A/S had a return on equity of 80.94% and a net margin of 34.52%. The firm had revenue of $11.87 billion for the quarter. On average, analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NVO has been the topic of several research analyst reports. Wall Street Zen raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Dbs Bank lowered Novo Nordisk A/S to a "sell" rating in a research report on Friday, April 25th. BNP Paribas began coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They issued an "underperform" rating on the stock. Kepler Capital Markets raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Finally, Hsbc Global Res raised Novo Nordisk A/S to a "strong-buy" rating in a report on Monday, April 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of "Hold" and a consensus 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.