Summit Wealth Group LLC Co. acquired a new stake in shares of Novo Nordisk A/S (NYSE:NVO – Free Report) in the third quarter, HoldingsChannel.com reports. The firm acquired 37,996 shares of the company’s stock, valued at approximately $1,440,000.
A number of other institutional investors and hedge funds have also bought and sold shares of NVO. Arrowstreet Capital Limited Partnership purchased a new position in Novo Nordisk A/S in the first quarter worth about $287,660,000. State Street Corp grew its holdings in shares of Novo Nordisk A/S by 0.6% during the second quarter. State Street Corp now owns 5,869,834 shares of the company’s stock valued at $284,565,000 after buying an additional 32,641 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Novo Nordisk A/S by 1.8% during the second quarter. Envestnet Asset Management Inc. now owns 4,031,114 shares of the company’s stock valued at $193,250,000 after buying an additional 71,684 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Novo Nordisk A/S by 3.2% during the first quarter. Royal Bank of Canada now owns 4,527,779 shares of the company’s stock valued at $166,396,000 after buying an additional 141,376 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of 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 valued at $124,844,000 after acquiring an additional 213,443 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on NVO shares. Citigroup restated a “neutral” rating on shares of Novo Nordisk A/S in a report on Friday, October 9th. Zacks Research raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Barclays reiterated a “neutral” rating on shares of Novo Nordisk A/S in a research note on Monday, September 7th. Berenberg Bank reissued a “neutral” rating on shares of Novo Nordisk A/S in a report on Monday, September 21st. Finally, DZ Bank restated a “neutral” rating on shares of Novo Nordisk A/S in a research note on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $59.44.
View Our Latest Stock Analysis on Novo Nordisk A/S
Novo Nordisk A/S Price Performance
Shares of NVO opened at $40.14 on Wednesday. The firm has a fifty day simple moving average of $40.97 and a two-hundred day simple moving average of $44.15. The firm has a market cap of $179.23 billion, a PE ratio of 9.81, a P/E/G ratio of 1.37 and a beta of 0.70. The company has a current ratio of 0.87, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55. Novo Nordisk A/S has a 1-year low of $35.12 and a 1-year high of $64.16.
Novo Nordisk A/S (NYSE:NVO – Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The company reported $0.94 earnings per share (EPS) for the quarter. The firm had revenue of $11.98 billion for the quarter. Novo Nordisk A/S had a return on equity of 58.61% and a net margin of 35.36%. On average, equities analysts anticipate that Novo Nordisk A/S will post 3.42 EPS for the current year.
Key Headlines Impacting Novo Nordisk A/S
Here are the key news stories impacting Novo Nordisk A/S this week:
- Positive Sentiment: Novo plans to repurchase 41.7 million shares under its $15 billion buyback program, which may support demand for the stock. Novo Nordisk stock and repurchases
- Positive Sentiment: New Wegovy and investigational CagriSema findings are expected at ObesityWeek, including real-world Wegovy results and additional CagriSema weight-loss outcomes. Strong data could bolster the obesity-drug pipeline and help restore confidence in future growth. Novo Nordisk obesity data
- Positive Sentiment: A valuation-focused article highlights NVO’s discount to sector peers, while another identifies the company as a potentially attractive dividend stock after a difficult year. These views may appeal to value-oriented investors, though they do not resolve near-term business risks. Novo Nordisk valuation Dividend-stock article
- Neutral Sentiment: Q3 results are a key upcoming catalyst. Investors are watching GLP-1 sales and management’s outlook; an article’s reference to substantial upside based on GF Value is a valuation estimate, not a forecast of earnings or share performance. Q3 results preview Earnings watch
- Negative Sentiment: Pre-earnings coverage flags intensifying GLP-1 competition, earnings estimate cuts and pricing pressure. Another report frames the November outlook around a trimmed target, while commentary points to a legal setback, Eli Lilly’s higher competitive bar and caveats around CagriSema. These concerns could weigh on growth expectations. Pre-earnings risks November challenges
Novo Nordisk A/S Profile
Novo Nordisk A/S is a Danish pharmaceutical company headquartered in Bagsværd, Denmark. The company focuses on developing and manufacturing medicines and delivery systems for chronic diseases, with a primary emphasis on diabetes and obesity care.
Novo Nordisk offers a broad portfolio of insulin products, as well as glucagon-like peptide-1 (GLP-1) medicines used in diabetes management and weight treatment. Its well-known products include Ozempic and Rybelsus for type 2 diabetes, Wegovy for chronic weight management, and several modern and human insulin products.
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