Novo Nordisk A/S $NVO Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 35.6% in the second quarter, Holdings Channel.com reports. The fund owned 1,678,195 shares of the company’s stock after selling 928,021 shares during the quarter. Novo Nordisk A/S comprises about 1.3% of Magellan Asset Management Ltd’s holdings, making the stock its 28th biggest position. Magellan Asset Management Ltd’s holdings in Novo Nordisk A/S were worth $115,829,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of NVO. Stone House Investment Management LLC purchased a new stake in Novo Nordisk A/S in the 1st quarter worth approximately $30,000. NewSquare Capital LLC increased its position in Novo Nordisk A/S by 174.1% in the 2nd quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock worth $31,000 after buying an additional 282 shares during the period. Disciplina Capital Management LLC raised its stake in Novo Nordisk A/S by 162.3% during the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock valued at $33,000 after purchasing an additional 297 shares during the last quarter. Dagco Inc. acquired a new stake in Novo Nordisk A/S during the first quarter worth about $35,000. Finally, Mid American Wealth Advisory Group Inc. bought a new stake in shares of Novo Nordisk A/S during the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 1.9%

Novo Nordisk A/S stock opened at $45.62 on Friday. The firm has a market capitalization of $203.69 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 2.33 and a beta of 0.65. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $55.32 and a 200 day moving average of $61.49. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $112.52.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly 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. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The business had revenue of $11.74 billion during the quarter, compared to analysts’ expectations of $11.98 billion. Novo Nordisk A/S has set its FY 2025 guidance at EPS. As a group, research analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

NVO has been the subject of several recent analyst reports. Berenberg Bank raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Wednesday, September 17th. Morgan Stanley lowered Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and dropped their price objective for the company from $59.00 to $47.00 in a research note on Monday, September 29th. BNP Paribas Exane upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 target price for the company in a research note on Wednesday, August 13th. Rothschild & Co Redburn raised shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 16th. Finally, Zacks Research upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $59.20.

About Novo Nordisk A/S

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.