Novo Nordisk stock split: what it means for traders
Stock splits occasionally draw heightened attention, particularly when they involve large global companies with active trading volumes. Novo Nordisk is one such example, with its recent split prompting renewed interest in how the company manages its share structure across markets.
Novo Nordisk (NVO) remains one of the world’s most closely followed healthcare companies, supported by demand for its diabetes and obesity medicines and ongoing investment in global manufacturing. Stock splits have featured at several points in the company’s history, often drawing interest from both long-term investors and short-term traders.
Explore how stock splits work, outlines Novo Nordisk’s most recent corporate action, and reviews the company’s latest developments and upcoming milestones.
Novo Nordisk (NVO) live share price
Past performance is not a reliable indicator of future results.
What is a stock split?
A stock split is a corporate action that increases the number of shares a company has in issue by allocating additional shares to existing holders at a set ratio. The company’s overall market value stays the same because the share price adjusts in proportion to the increased share count. In a 2-for-1 split, for instance, each shareholder receives an additional share for every one held, while the share price halves. The total value of the holding therefore remains unchanged.
Companies sometimes use stock splits to bring the headline share price in line with typical trading ranges, which may support accessibility or liquidity. A split does not alter the company’s fundamentals and does not change ownership proportions.
Novo Nordisk’s most recent stock split
Novo Nordisk completed a 2-for-1 split in September 2023, affecting both its B shares listed on Nasdaq Copenhagen and its American Depositary Receipts (ADRs) listed on the New York Stock Exchange. The action maintained the long-standing 1:1 relationship between a B share and an ADR.
Following the split, each previous B share with a nominal value of 0.20 DKK was replaced by two B shares with a nominal value of 0.10 DKK. Although the share price adjusted, the company’s total share capital remained unchanged, as did proportional ownership and overall market capitalisation.
The move followed sustained global demand for the company’s GLP-1 portfolio during a period of high liquidity in healthcare equities.
Why did Novo Nordisk conduct a share split?
The company stated that the 2023 split aimed to support liquidity across both its Copenhagen-listed B shares and its NYSE-listed ADRs. A lower share price can bring trading levels closer to common price ranges seen in large-cap equities, particularly in the US market, where retail participation is significant.
Stock splits can also contribute to smoother order flow by reducing bid-ask spreads and aligning prices with levels familiar to a wide range of market participants. As with all stock splits, the 2023 action did not change Novo Nordisk’s valuation or business outlook.
Will Novo Nordisk split again in 2026?
As of 15 December 2025, Novo Nordisk has not announced any further splits beyond the 2023 action. The company has not provided guidance indicating a split in 2026. Any future decision would require separate approval and public communication.
For the latest updates, you can monitor the company’s investor relations releases, where all market-sensitive announcements are published first.
Novo Nordisk stock split history
Novo Nordisk has carried out several stock splits over the past three decades as its global presence has expanded. Selected historical actions include:
| Split date (ADR/B) | Approx. ratio | Notes |
|---|---|---|
| 20 September 2023 (ADR) / 13 September 2023 (B) | 2-for-1 | Latest split; nominal value reduced from 0.20 DKK to 0.10 DKK on B shares. |
| 9 January 2014 | 5-for-1 | Prior split of ADRs and B shares. |
| 17 December 2007 | 2-for-1 | Earlier ADR split. |
| 11 April 2001 | ~2.5-for-1 | Share unit restructuring. |
| 18 April 1994 | 4-for-1 | Earliest widely referenced split in the current structure. |
These actions reflect periods in which the company aligned its share price with market conventions and supported trading activity across regions.
Latest earnings: first nine months of 2025
Novo Nordisk’s results for the first nine months of 2025 showed revenue growth when measured in Danish kroner, supported by demand for its diabetes and obesity treatments and by continued investment in manufacturing and supply-chain capacity.
The company narrowed its full-year 2025 sales and operating profit guidance, citing more moderate expectations for its GLP-1 portfolio and the cost impact of an ongoing transformation programme.
Further highlights included:
- An increased 2025 interim dividend of 3.75 DKK per A and B share of 0.10 DKK, around 7% higher than the 2024 interim dividend.
- Continued expansion of production facilities in Denmark, the US and Europe to support long-term product availability.
- Ongoing investment in R&D focused on cardiometabolic diseases, consistent with its strategy to strengthen leadership in chronic disease management.
Past performance is not a reliable indicator of future results.
Outlook and upcoming developments
Novo Nordisk has guided for mid- to high-single-digit to low-teens percentage sales and operating profit growth in 2025 at constant exchange rates, with reported figures influenced by currency movements.
Operationally, the company is progressing with a transformation programme that includes manufacturing expansion, workforce changes and increased capital expenditure. The programme is intended to improve long-term efficiency and support expected demand across its obesity and diabetes portfolio.
In R&D, the company continues to advance clinical candidates targeting obesity, diabetes and broader cardiometabolic conditions. It has also emphasised plans to strengthen supply robustness through capacity expansion and strategic partnerships.
As of December 2025, no further stock splits have been signalled. Any future corporate actions will depend on market conditions, board decisions and the company’s capital-structure priorities.
Summary
- Novo Nordisk’s most recent stock split was a 2-for-1 action completed in September 2023, affecting both B shares and ADRs.
- As of 15 December 2025, no additional split has been announced for 2026.
- Stock splits adjust share count and price but do not change company value.
- The company reported revenue growth in the first nine months of 2025, alongside updated guidance and ongoing investment.
- Upcoming developments include expanded manufacturing capacity, continued R&D progress and a focus on cardiometabolic areas.
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FAQ
When did Novo Nordisk stock split?
Novo Nordisk’s most recent stock split was a 2-for-1 action decided in 2023. It applied to both its Copenhagen-listed B shares and its NYSE-listed ADRs. The company has also carried out earlier splits in 2014, 2007, 2001 and 1994.
When did the Novo Nordisk stock split take effect?
The B shares on Nasdaq Copenhagen began trading on a split-adjusted basis on 13 September 2023, when the nominal value moved from 0.20 DKK to 0.10 DKK. The ADRs listed on the New York Stock Exchange (ticker NVO) became effective on 20 September 2023, following an ex-distribution date of 20 September and a payable date of 19 September 2023.
Did Novo Nordisk have a stock split before?
Yes. Before the 2023 split, Novo Nordisk conducted several stock splits over the past three decades. These include actions in 2014, 2007, 2001 and 1994 on the ADR line, with similar changes recorded for the Copenhagen-listed B shares.
How many times has Novo Nordisk stock split?
The NYSE-listed ADRs have undergone five stock splits in total: 1994, 2001, 2007, 2014 and 2023. The Copenhagen-listed B shares have a comparable split history, with the most recent adjustment in September 2023.
How much was Novo Nordisk stock after the split?
Following the 2-for-1 split in 2023, the Copenhagen price adjusted to reflect the increased share count, with the post-split level reaching roughly half of the previous price while continuing to respond to normal market movements. On the NYSE, each pre-split ADR became two post-split ADRs, so the reference price similarly adjusted to around half of the pre-split figure around the ex-date, subject to usual day-to-day trading activity.
Why did Novo Nordisk split its stock?
Novo Nordisk stated that the 2023 split aimed to support liquidity across both its Copenhagen-listed B shares and its NYSE-listed ADRs. Lowering the headline share price can align trading levels more closely with ranges commonly seen in large-cap equities, particularly in markets with high retail participation. As with any stock split, the action didn’t change the company’s valuation or business fundamentals.
Will Novo Nordisk split again?
As of 15 December 2025, Novo Nordisk has not announced any plans for another stock split. Any future decision would require board approval and would be communicated through official investor relations channels and regulatory releases.
What was the most recent Novo Nordisk stock split date?
The most recent split took effect on 13 September 2023 for the Copenhagen-listed B shares and on 20 September 2023 for the NYSE-listed ADRs. For those following the ADR, 20 September 2023 is the primary date used when reviewing historical charts and adjusted pricing.
How can I trade Novo Nordisk CFDs on Capital.com?
You can trade Novo Nordisk CFDs on Capital.com by opening an account, visiting the stock’s dedicated market page and using the platform’s tools to speculate on price movements. CFDs let you go long or short without owning the underlying shares. Contracts for difference (CFDs) are traded on margin – leverage amplifies both profits and losses. Understand how CFDs work and how to use risk-management tools such as take-profit and stop-loss orders before opening a position. Past performance isn’t a reliable indicator of future results.*
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