Princeton Capital Management LLC Reduces Stock Holdings in Novo Nordisk A/S $NVO

Princeton Capital Management LLC lowered its holdings in Novo Nordisk A/S (NYSE:NVO) by 33.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,993 shares of the company’s stock after selling 8,675 shares during the quarter. Princeton Capital Management LLC’s holdings in Novo Nordisk A/S were worth $1,173,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lockheed Martin Investment Management Co. grew its position in Novo Nordisk A/S by 179.4% during the second quarter. Lockheed Martin Investment Management Co. now owns 43,450 shares of the company’s stock valued at $2,999,000 after buying an additional 27,900 shares during the period. Unified Investment Management acquired a new stake in Novo Nordisk A/S in the 2nd quarter valued at $692,000. Acadian Asset Management LLC lifted its stake in Novo Nordisk A/S by 15,919.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock valued at $72,523,000 after buying an additional 1,038,137 shares in the last quarter. Guild Investment Management Inc. boosted its stake in shares of Novo Nordisk A/S by 20.7% in the second quarter. Guild Investment Management Inc. now owns 36,995 shares of the company’s stock worth $2,553,000 after acquiring an additional 6,345 shares during the last quarter. Finally, Norden Group LLC grew its holdings in shares of Novo Nordisk A/S by 216.3% during the second quarter. Norden Group LLC now owns 96,332 shares of the company’s stock worth $6,649,000 after buying an additional 65,877 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $46.54 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $112.52. The company’s fifty day moving average price is $55.54 and its 200 day moving average price is $61.58. The company has a market capitalization of $207.80 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 2.33 and a beta of 0.65.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.25. The firm had revenue of $11.74 billion during the quarter, compared to the consensus estimate of $11.98 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Novo Nordisk A/S has set its FY 2025 guidance at EPS. As a group, analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NVO shares. BMO Capital Markets reiterated a “market perform” rating and set a $55.00 price target (up previously from $50.00) on shares of Novo Nordisk A/S in a report on Tuesday, October 14th. HSBC set a $70.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, October 1st. Dbs Bank raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, August 22nd. Rothschild & Co Redburn raised Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 16th. Finally, Sanford C. Bernstein upgraded Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $59.20.

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.