Thomasville National Bank Buys Shares of 2,010 Novo Nordisk A/S (NYSE:NVO)

Thomasville National Bank bought a new stake in shares of Novo Nordisk A/S (NYSE:NVO) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,010 shares of the company’s stock, valued at approximately $258,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Morgan Stanley raised its stake in Novo Nordisk A/S by 96.5% during the 3rd quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock valued at $838,021,000 after acquiring an additional 4,526,199 shares in the last quarter. Folketrygdfondet increased its position in shares of Novo Nordisk A/S by 2.7% during the 4th quarter. Folketrygdfondet now owns 8,631,264 shares of the company’s stock valued at $892,904,000 after purchasing an additional 225,822 shares during the period. Capital International Investors increased its position in shares of Novo Nordisk A/S by 22.3% during the 4th quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock valued at $736,121,000 after purchasing an additional 1,297,536 shares during the period. Royal Bank of Canada increased its position in shares of Novo Nordisk A/S by 109.2% during the 3rd quarter. Royal Bank of Canada now owns 3,643,061 shares of the company’s stock valued at $331,300,000 after purchasing an additional 1,901,429 shares during the period. Finally, Northern Trust Corp increased its position in shares of Novo Nordisk A/S by 110.4% during the 3rd quarter. Northern Trust Corp now owns 3,585,407 shares of the company’s stock valued at $326,057,000 after purchasing an additional 1,881,264 shares during the period. Institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NVO. BMO Capital Markets assumed coverage on Novo Nordisk A/S in a research report on Friday, April 12th. They set an “outperform” rating and a $163.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday. Argus lifted their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective for the company. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $145.67.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $141.53 on Friday. Novo Nordisk A/S has a fifty-two week low of $75.56 and a fifty-two week high of $144.50. The business has a 50-day moving average of $132.60 and a two-hundred day moving average of $121.44. The stock has a market capitalization of $635.12 billion, a P/E ratio of 48.62, a P/E/G ratio of 1.40 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The company had revenue of $9.52 billion during the quarter, compared to analysts’ expectations of $9.23 billion. On average, equities research analysts predict that Novo Nordisk A/S will post 3.41 EPS for the current fiscal year.

Novo Nordisk A/S 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.