Teamwork Financial Advisors LLC Sells 95,033 Shares of Novo Nordisk A/S $NVO

Teamwork Financial Advisors LLC reduced its position in shares of Novo Nordisk A/S (NYSE:NVO) by 94.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,091 shares of the company’s stock after selling 95,033 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Novo Nordisk A/S were worth $244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Revolve Wealth Partners LLC grew its holdings in Novo Nordisk A/S by 8.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock valued at $214,000 after buying an additional 200 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Novo Nordisk A/S by 4.7% during the second quarter. CoreCap Advisors LLC now owns 5,341 shares of the company’s stock worth $256,000 after buying an additional 242 shares in the last quarter. Carson Advisory Inc. lifted its holdings in shares of Novo Nordisk A/S by 2.2% during the first quarter. Carson Advisory Inc. now owns 12,316 shares of the company’s stock worth $453,000 after buying an additional 268 shares in the last quarter. Bradley Foster & Sargent Inc. CT boosted its position in shares of Novo Nordisk A/S by 0.6% in the first quarter. Bradley Foster & Sargent Inc. CT now owns 46,960 shares of the company’s stock valued at $1,726,000 after acquiring an additional 272 shares during the period. Finally, Arlington Partners LLC boosted its position in shares of Novo Nordisk A/S by 4.4% in the second quarter. Arlington Partners LLC now owns 6,777 shares of the company’s stock valued at $325,000 after acquiring an additional 283 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $45.15 on Wednesday. The firm has a 50 day moving average of $47.84 and a 200-day moving average of $43.71. The stock has a market capitalization of $201.60 billion, a PE ratio of 11.04, a PEG ratio of 1.56 and a beta of 0.74. The company has a current ratio of 0.79, a quick ratio of 0.56 and a debt-to-equity ratio of 0.59. Novo Nordisk A/S has a 12 month low of $35.12 and a 12 month high of $64.16.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.94 earnings per share (EPS) for the quarter. The business had revenue of $11.98 billion for the quarter. Novo Nordisk A/S had a net margin of 35.36% and a return on equity of 61.20%. On average, equities research analysts predict that Novo Nordisk A/S will post 3.45 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a dividend, which was paid on Tuesday, August 25th. Stockholders of record on Monday, August 17th were paid a $0.5786 dividend. The ex-dividend date was Monday, August 17th. This represents a dividend yield of 258.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 19.80%.

Novo Nordisk A/S News Roundup

Here are the key news stories impacting Novo Nordisk A/S this week:

• Positive Sentiment: Wegovy succeeds in pediatric obesity trial: In the Phase 3 STEP Young study, 40.4% of children ages 6 to under 12 treated with once-weekly semaglutide were no longer classified as having obesity after 68 weeks, compared with 0% in the placebo group. The trial met its primary endpoint, with no new safety concerns reported involving growth or puberty. The results could support a future label expansion and open a significant new market for Wegovy. Novo Nordisk reports positive semaglutide trial results in young children
• Positive Sentiment: Share repurchases provide support: Novo is continuing a broader share-buyback program of up to DKK 15 billion over 12 months, which may support earnings per share and signal management’s confidence in the company’s valuation. Novo Nordisk share repurchase programme
• Neutral Sentiment: Valuation is attracting investor interest: Novo Nordisk trades substantially below its 2024 high and at a relatively modest earnings multiple, but investors remain focused on whether growth can reaccelerate amid intensifying competition from Eli Lilly and uncertainty surrounding the next generation of obesity medicines. Is Novo Nordisk Stock Still Too Cheap for Investors to Ignore?
• Negative Sentiment: Two cardiovascular trials were halted: Novo discontinued two Phase 3 trials of experimental IL-6 drug ziltivekimab after disappointing results, weakening its diversification strategy and reinforcing concerns that the company is overly dependent on Ozempic, Wegovy and related products. Novo scraps two more heart drug trials
• Negative Sentiment: Management remains cautious on the peptide boom: The new CEO has warned that enthusiasm for peptide-based therapies may be excessive, adding to concerns about competition, pricing and the durability of the obesity-drug growth cycle. Why the CEO of Wegovy maker Novo Nordisk isn’t yet sold on the peptide craze

Wall Street Analysts Forecast Growth

NVO has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Berenberg Bank set a $47.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, August 12th. BMO Capital Markets restated a “market perform” rating and set a $47.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, August 6th. Zacks Research raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of Novo Nordisk A/S from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $64.94.

Novo Nordisk A/S Profile

Novo Nordisk A/S is a Danish healthcare company headquartered in Bagsværd, Denmark. Founded in 1923, the company develops and manufactures pharmaceutical products focused primarily on diabetes and obesity care, as well as treatments for rare blood disorders and growth disorders.

Its diabetes portfolio includes insulin products and medicines in the glucagon-like peptide-1 (GLP-1) class, including Ozempic, Rybelsus and Wegovy. The company also offers treatments for obesity, hemophilia and other rare conditions, along with growth hormone therapies.