Trust Co. of Oklahoma Decreases Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Trust Co. of Oklahoma reduced its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 16.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,075 shares of the company’s stock after selling 400 shares during the quarter. Trust Co. of Oklahoma’s holdings in Novo Nordisk A/S were worth $266,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NVO. Charles Schwab Investment Management Inc. boosted its stake in shares of Novo Nordisk A/S by 245.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 68,477 shares of the company’s stock valued at $6,227,000 after purchasing an additional 48,678 shares during the period. Bank of Nova Scotia purchased a new position in shares of Novo Nordisk A/S in the third quarter valued at $263,000. Toronto Dominion Bank boosted its stake in shares of Novo Nordisk A/S by 93.3% in the third quarter. Toronto Dominion Bank now owns 45,912 shares of the company’s stock valued at $4,175,000 after purchasing an additional 22,165 shares during the period. Ancora Advisors LLC boosted its stake in shares of Novo Nordisk A/S by 100.0% in the third quarter. Ancora Advisors LLC now owns 2,538 shares of the company’s stock valued at $231,000 after purchasing an additional 1,269 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in shares of Novo Nordisk A/S by 638.5% in the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock valued at $44,000 after purchasing an additional 415 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVO has been the subject of several analyst reports. Argus upped their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $163.00 price target on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $145.67.

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO traded down $3.87 on Wednesday, reaching $139.11. 7,455,753 shares of the company’s stock were exchanged, compared to its average volume of 4,481,115. The firm has a market capitalization of $624.26 billion, a price-to-earnings ratio of 48.68, a PEG ratio of 1.42 and a beta of 0.41. Novo Nordisk A/S has a fifty-two week low of $75.56 and a fifty-two week high of $148.15. The business’s 50-day moving average is $135.69 and its two-hundred day moving average is $124.37. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17.

Novo Nordisk A/S (NYSE:NVO) last issued its 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 net margin of 36.56% and a return on equity of 91.70%. The company had revenue of $9.52 billion for the quarter, compared to analysts’ expectations of $9.23 billion. As a group, equities research analysts forecast that Novo Nordisk A/S will post 3.41 EPS for the current 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.