OLD National Bancorp IN Acquires 190,493 Shares of Novo Nordisk A/S $NVO

OLD National Bancorp IN grew its holdings in Novo Nordisk A/S (NYSE:NVO) by 375.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 241,278 shares of the company’s stock after acquiring an additional 190,493 shares during the period. OLD National Bancorp IN’s holdings in Novo Nordisk A/S were worth $8,867,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Godfrey Financial Associates Inc. bought a new stake in Novo Nordisk A/S during the 4th quarter valued at approximately $25,000. WealthCollab LLC boosted its stake 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 purchasing an additional 260 shares during the period. American National Bank & Trust purchased a new stake in Novo Nordisk A/S during the 4th quarter valued at approximately $28,000. Maseco LLP bought a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $29,000. Finally, Jackson Grant Investment Advisers Inc. bought a new stake 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.

Analysts Set New Price Targets

Several research analysts have commented on NVO shares. Sanford C. Bernstein initiated coverage on shares of Novo Nordisk A/S in a report on Wednesday, March 18th. They set an “outperform” rating and a $175.00 price objective for the company. Weiss Ratings downgraded Novo Nordisk A/S from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 22nd. Zacks Research upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. TD Cowen downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $42.00 price objective on the stock. in a research note on Tuesday, March 10th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Novo Nordisk A/S in a report on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Novo Nordisk A/S presently has an average rating of “Hold” and an average price target of $65.56.

Novo Nordisk A/S Trading Up 0.8%

NVO stock opened at $48.01 on Friday. 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 has a twelve month low of $35.12 and a twelve month high of $71.79. The stock has a market capitalization of $214.36 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 4.26 and a beta of 0.78. The firm’s fifty day simple moving average is $43.79 and its two-hundred day simple moving average is $45.83.

Novo Nordisk A/S (NYSE:NVO) last announced 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 business had revenue of $10.85 billion during the quarter. As a group, analysts anticipate that Novo Nordisk A/S will post 3.45 earnings per share for the current year.

Novo Nordisk A/S Profile

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.