Kestra Advisory Services LLC grew its stake in shares of Novo Nordisk A/S (NYSE:NVO – Free Report) by 24.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 182,097 shares of the company’s stock after acquiring an additional 36,252 shares during the period. Kestra Advisory Services LLC’s holdings in Novo Nordisk A/S were worth $6,903,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Arrowstreet Capital Limited Partnership purchased a new position in shares of Novo Nordisk A/S in the 1st quarter valued at about $287,660,000. Maverick Capital Ltd. purchased a new stake in Novo Nordisk A/S during the first quarter worth about $76,444,000. Public Employees Retirement System of Ohio purchased a new stake in Novo Nordisk A/S during the first quarter worth about $27,802,000. Mirae Asset Global Investments Co. Ltd. grew its position in Novo Nordisk A/S by 2,414.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 297,881 shares of the company’s stock worth $14,280,000 after buying an additional 286,034 shares during the period. Finally, Renaissance Technologies LLC grew its position in Novo Nordisk A/S by 6.7% during the first quarter. Renaissance Technologies LLC now owns 3,397,121 shares of the company’s stock worth $124,844,000 after buying an additional 213,443 shares during the period. 11.54% of the stock is owned by institutional investors and hedge funds.
Novo Nordisk A/S Price Performance
Novo Nordisk A/S stock opened at $41.13 on Thursday. Novo Nordisk A/S has a 52 week low of $35.12 and a 52 week high of $64.16. The company has a quick ratio of 0.64, a current ratio of 0.84 and a debt-to-equity ratio of 0.54. The firm’s 50-day simple moving average is $40.32 and its 200 day simple moving average is $43.56. The firm has a market capitalization of $183.65 billion, a PE ratio of 10.36, a P/E/G ratio of 1.40 and a beta of 0.70.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. Weiss Ratings cut shares of Novo Nordisk A/S from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. BMO Capital Markets set a $40.00 price target on shares of Novo Nordisk A/S and gave the company a “market perform” rating in a research report on Monday, October 12th. Jefferies Financial Group reissued a “neutral” rating on shares of Novo Nordisk A/S in a research note on Monday, September 21st. Zacks Research upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Deutsche Bank reaffirmed a “sell” rating on shares of Novo Nordisk A/S in a research note on Tuesday, September 29th. Five investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Hold” and an average target price of $59.44.
Key Novo Nordisk A/S News
Here’s some of the latest news about NVO:
- Positive Sentiment: Novo’s Wegovy pill recorded DKK 5.4 billion in third-quarter sales, a potential growth driver as access expands. However, competition in the GLP-1 market remains intense, and a higher-dose Wegovy version may be important to reviving momentum. Article: Will Wegovy Pill Drive Renewed GLP-1 Growth Momentum for Novo Stock?
- Neutral Sentiment: Novo pledged $200 million over 10 years to the World Diabetes Foundation for prevention and care in lower-income countries. The commitment supports its public-health profile, though it is not a near-term sales catalyst. Article: Novo commits USD 200 million to the World Diabetes Foundation
- Negative Sentiment: The FDA is requiring GLP-1 makers to add warnings about rare NAION-related vision loss to labels for drugs including Wegovy. Although the risk is rare and the warning covers competitors’ medicines too, it could raise safety concerns among patients and investors. Article: FDA warns of vision loss risk linked to popular GLP-1 drugs
Novo Nordisk A/S Profile
Novo Nordisk A/S is a Danish pharmaceutical company focused on treatments for diabetes, obesity and other serious chronic diseases. Its portfolio includes insulin and other diabetes medicines, as well as obesity treatments such as Wegovy and diabetes treatments such as Ozempic and Rybelsus. The company also develops medicines for rare blood and endocrine disorders, including hemophilia and growth disorders. Its products are sold in markets around the world. Novo Nordisk traces its roots to Danish insulin companies founded in the 1920s; the two organizations that became Novo Nordisk merged in 1989.
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