Saturna Capital Corp lessened its stake in Novo Nordisk A/S (NYSE:NVO – Free Report) by 13.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,790,627 shares of the company’s stock after selling 281,992 shares during the quarter. Novo Nordisk A/S accounts for approximately 0.9% of Saturna Capital Corp’s holdings, making the stock its 29th largest position. Saturna Capital Corp’s holdings in Novo Nordisk A/S were worth $65,806,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cassaday & Co Wealth Management LLC bought a new position in shares of Novo Nordisk A/S during the 1st quarter valued at about $45,000. Carson Advisory Inc. increased its holdings in shares of Novo Nordisk A/S by 2.2% in the first quarter. Carson Advisory Inc. now owns 12,316 shares of the company’s stock worth $453,000 after purchasing an additional 268 shares during the last quarter. Scarborough Advisors LLC bought a new stake in shares of Novo Nordisk A/S in the first quarter worth about $26,000. Parallel Advisors LLC lifted its position in shares of Novo Nordisk A/S by 27.8% in the first quarter. Parallel Advisors LLC now owns 55,856 shares of the company’s stock worth $2,053,000 after buying an additional 12,138 shares in the last quarter. Finally, Spartan Wealth Advisory Services LLC purchased a new stake in shares of Novo Nordisk A/S in the first quarter worth about $406,000. Institutional investors own 11.54% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have weighed in on NVO. HSBC restated a “hold” rating on shares of Novo Nordisk A/S in a report on Monday, July 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Novo Nordisk A/S in a research report on Monday. Citigroup reissued a “neutral” rating on shares of Novo Nordisk A/S in a report on Monday. Nordea Equity Research upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Friday, June 19th. Finally, Wall Street Zen downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Five investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of “Hold” and an average price target of $65.56.
More Novo Nordisk A/S News
Here are the key news stories impacting Novo Nordisk A/S this week:
- Positive Sentiment: Novo Nordisk received a boost from continued momentum behind Wegovy, including reports that the newly approved oral version in Europe could expand the drug’s reach and improve the company’s competitive position. Wegovy Pill in Europe – Novo Nordisk Expands Franchise With First European Approval for Oral Weight Loss Drug
- Positive Sentiment: Citi reportedly raised its price target on Novo Nordisk ahead of earnings, citing stronger-than-expected Wegovy pill launch trends and higher sales and profit estimates, which supports a more bullish near-term outlook. Citi lifts Novo Nordisk target on strong GLP-1 pill launch
- Positive Sentiment: Novo Nordisk also announced progress in China through Fangzhou’s launch of Kyinsu, a once-weekly basal insulin/GLP-1 combination therapy, broadening its international diabetes footprint. Fangzhou Launches Novo Nordisk’s Once-Weekly Basal Insulin/GLP-1 Therapy in China
- Neutral Sentiment: The company said it is continuing a DKK 15 billion share repurchase program, which can help offset dilution and signal management confidence, but is not a major new catalyst on its own. Novo Nordisk A/S – share repurchase programme
- Negative Sentiment: The biggest near-term headwind is Novo Nordisk’s lawsuit against Eli Lilly, alleging misleading advertising and outdated clinical data in campaigns for Zepbound and Mounjaro. While the suit aims to protect Novo’s brands, it also highlights intensifying competition in obesity drugs and adds litigation risk. Novo Nordisk says it is suing Eli Lilly, accusing it of false advertising
Novo Nordisk A/S Trading Down 0.4%
Shares of NYSE NVO opened at $49.40 on Wednesday. Novo Nordisk A/S has a fifty-two week low of $35.12 and a fifty-two week high of $71.79. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.56 and a current ratio of 0.79. The company has a market cap of $220.58 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 4.53 and a beta of 0.77. The business’s 50 day moving average price is $46.21 and its 200-day moving average price is $45.77.
Novo Nordisk A/S (NYSE:NVO – Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $1.03 earnings per share (EPS) for the quarter. Novo Nordisk A/S had a return on equity of 63.31% and a net margin of 37.23%.The company had revenue of $10.85 billion during the quarter. On average, sell-side analysts expect that Novo Nordisk A/S will post 3.38 earnings per share for the current year.
Novo Nordisk A/S Company Profile
Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.
The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.
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