OLD National Bancorp IN Grows Stock Position in Novo Nordisk A/S $NVO

OLD National Bancorp IN raised its stake in Novo Nordisk A/S (NYSE:NVO) by 375.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 241,278 shares of the company’s stock after purchasing an additional 190,493 shares during the quarter. OLD National Bancorp IN’s holdings in Novo Nordisk A/S were worth $8,867,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NVO. Godfrey Financial Associates Inc. purchased a new position in shares of Novo Nordisk A/S in the fourth quarter valued at about $25,000. WealthCollab LLC lifted its holdings in Novo Nordisk A/S by 93.5% in the 4th quarter. WealthCollab LLC now owns 538 shares of the company’s stock worth $27,000 after buying an additional 260 shares during the period. American National Bank & Trust bought a new stake in shares of Novo Nordisk A/S in the 4th quarter worth approximately $28,000. Maseco LLP bought a new stake in shares of Novo Nordisk A/S in the 4th quarter worth approximately $29,000. Finally, Jackson Grant Investment Advisers Inc. purchased a new position in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Sanford C. Bernstein began coverage on shares of Novo Nordisk A/S in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $175.00 price target for the company. Wall Street Zen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Wolfe Research initiated coverage on shares of Novo Nordisk A/S in a research note on Thursday, March 26th. They set a “peer perform” rating for the company. Nordea Equity Research upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Friday, June 19th. Finally, Morgan Stanley raised shares of Novo Nordisk A/S from an “underweight” rating to an “equal weight” rating and set a $40.00 price target for the company in a research report on Tuesday, March 3rd. Five equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S has an average rating of “Hold” and an average target price of $65.56.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $48.01 on Friday. The firm’s 50 day moving average price is $43.79 and its 200-day moving average price is $45.83. The stock has a market capitalization of $214.36 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 4.26 and a beta of 0.78. Novo Nordisk A/S has a twelve month low of $35.12 and a twelve month high of $71.79. The company has a quick ratio of 0.56, a current ratio of 0.79 and a debt-to-equity ratio of 0.59.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $1.03 earnings per share (EPS) for the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. The firm had revenue of $10.85 billion during the quarter. Equities research analysts expect that Novo Nordisk A/S will post 3.45 EPS for the current year.

About Novo Nordisk A/S

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.