Wesbanco Bank Inc. Acquires 74,685 Shares of Novo Nordisk A/S (NYSE:NVO)

Wesbanco Bank Inc. lifted its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 72.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 177,801 shares of the company's stock after acquiring an additional 74,685 shares during the period. Wesbanco Bank Inc.'s holdings in Novo Nordisk A/S were worth $12,347,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of America Corp DE lifted its stake 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 purchasing an additional 1,165,955 shares during the period. GQG Partners LLC raised its holdings in shares of Novo Nordisk A/S by 74.7% in the 4th 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 in the last quarter. Loomis Sayles & Co. L P lifted its position in shares of Novo Nordisk A/S by 34.2% during the 4th 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 lifted its position in shares of Novo Nordisk A/S by 0.5% during the 4th 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 boosted its stake in Novo Nordisk A/S by 1.5% in the 4th quarter. Renaissance Technologies LLC now owns 8,312,996 shares of the company's stock valued at $715,084,000 after buying an additional 123,681 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NVO. Morgan Stanley initiated coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They set an "equal weight" rating for the company. Dbs Bank cut shares of Novo Nordisk A/S to a "sell" rating in a research report on Friday, April 25th. Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. 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, BNP Paribas started coverage on shares of Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an "underperform" rating for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of "Hold" and an average target price of $128.00.

Novo Nordisk A/S Stock Up 2.8%

Shares of NYSE:NVO opened at $74.70 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The firm has a market cap of $335.22 billion, a P/E ratio of 22.71, a P/E/G ratio of 0.90 and a beta of 0.66. Novo Nordisk A/S has a 12 month low of $57.00 and a 12 month high of $148.15. The company's 50-day moving average price is $65.87 and its two-hundred day moving average price is $80.38.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. The business had revenue of $11.87 billion for the quarter. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. As a group, research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Company 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.

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