Novo Nordisk (ADR)
Develops GLP-1 and insulin medicines for diabetes, obesity and rare diseases.
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Profile
Sells GLP-1 medicines and insulin for diabetes and obesity, with a smaller rare-disease business in haemophilia and growth disorders. Protein-drug and injection-device expertise supports injectable and oral formats, while access depends on regulation, reimbursement and manufacturing capacity.
Develops and markets GLP-1 medicines and insulin for diabetes and obesity, supported by injection devices and newer oral formats. Rare Disease adds haemophilia and growth-hormone therapies as a smaller, separately reported business.
Operations span the United States and international markets. A century of protein-medicine development and self-administration devices underpins the transition from insulin into GLP-1 products for both diabetes and weight management.
Commercial access depends on regulatory approval, compliant safety communication, payer coverage and adequate manufacturing capacity. Periodic supply constraints have persisted for some products even as filling capacity expanded, while compounded semaglutide and rival obesity medicines shape competition. A Danish foundation-linked shareholder retains decisive voting control through the dual-class structure.
Company facts
Key statistics
Year to date −13.0% · Average volume (30d) 12.5M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 27, 2026 | Deutsche Bank | Downgrade | Hold | Sell | ||
| Aug 12, 2026 | Berenberg Bank | Target | $47 | |||
| Aug 6, 2026 | BMO Capital | Reiterate | Market Perform | $45 | $47 | |
| Jun 19, 2026 | Nordea | Upgrade | Hold | Buy | ||
| Mar 2, 2026 | Goldman Sachs | Downgrade | Buy | Neutral |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.82 | $0.96 | +17.1% | $10.89B | $12.13B | +11.3% | +0.56% |
| May 6, 2026Q1 FY26 | $0.87 | $1.04 | +19.5% | $10.86B | $11.02B | +1.5% | +0.09% |
| Feb 3, 2026Q4 FY25 | $0.90 | $1.00 | +11.1% | $12.13B | $12.50B | +3.1% | −6.18% |
| Nov 5, 2025Q3 FY25 | $0.77 | $1.02 | +32.5% | $12.37B | $11.78B | −4.8% | −4.02% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $12.10B | $11.91B | $11.62B | $12.27B | $15.01B | $12.17B | |
| Gross profit | $10.11B | $9.92B | $8.85B | $9.92B | $12.90B | $9.51B | |
| Operating income | $6.01B | $5.18B | $3.67B | $4.92B | $9.24B | $4.19B | |
| Net income | $4.50B | $4.11B | $3.10B | $4.17B | $7.53B | $3.25B | |
| Diluted EPS | $1.01 | $0.92 | $0.70 | $0.94 | $1.69 | $0.73 | |
| Gross margin | 83.5% | 83.3% | 76.1% | 80.9% | 86.0% | 78.2% | |
| Operating margin | 49.7% | 43.5% | 31.6% | 40.1% | 61.6% | 34.5% |
Fiscal years (4-quarter sums)FY21 $21.82B · FY22 $27.43B · FY23 $36.00B · FY24 $45.01B · FY25 $47.90B
Balance sheet, Jun 30, 2026Cash & short-term investments $6.97B · Total debt $21.72B · Total assets $92.21B · Shareholders' equity $34.30B
Dividends
Raised for 6 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 17, 2026 | Aug 17 | Aug 25 | $0.5792 | cut from $1.2174 |
| Mar 30, 2026 | Mar 30 | Apr 8 | $1.2174 | raised from $0.5843 |
| Aug 18, 2025 | Aug 18 | Aug 26 | $0.5843 | cut from $1.1426 |
| Mar 31, 2025 | Mar 31 | Apr 8 | $1.1426 | raised from $0.5169 |
| Aug 16, 2024 | Aug 16 | Aug 26 | $0.5169 | cut from $0.9293 |
| Mar 22, 2024 | Mar 25 | Apr 2 | $0.9293 | raised from $0.4382 split-adjusted |
| Aug 18, 2023 | Aug 21 | Aug 29 | $0.8763 | cut from $1.1806 |
| Mar 24, 2023 | Mar 27 | Apr 4 | $1.1806 | raised from $0.5778 |
Ownership
Shares outstanding 4.44B · Float 3.17B · 71.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Dodge & Cox | 20.40M | 0.46% | 13F | Aug 13, 2026 |
| Loomis Sayles & Co L P | 18.59M | 0.42% | 13F | Aug 14, 2026 |
| Franklin Resources Inc | 13.04M | 0.29% | 13F | Aug 13, 2026 |
| Price T Rowe Associates Inc /MD/ | 11.70M | 0.26% | 13F | Aug 14, 2026 |
| Morgan Stanley | 11.66M | 0.26% | 13F | Aug 13, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Eli Lilly
Dominant incretin rival across obesity and type 2 diabetes
- Sanofi (ADR)
Direct overlap in basal insulin and haemophilia medicines
- Pfizer
Focused overlap in haemophilia and growth hormone therapy
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Novo Nordisk (ADR) | $45.60 | +0.00% | $202.54B | 11.2 | 18.4 | 4.0 | +0.0% |
| Eli Lilly | $1,173.00 | −0.08% | $1.10T | 39.4 | 28.7 | 13.9 | +47.7% |
| Sanofi (ADR) | $44.83 | +0.02% | $107.62B | 78.9 | — | 1.9 | +11.2% |
| Pfizer | $27.95 | −0.04% | $159.36B | 36.9 | 10.0 | 2.5 | +2.6% |
| Median | 39.4 | 19.4 | 2.5 | +11.2% |