Princeton Capital Management LLC Sells 8,675 Shares of Novo Nordisk A/S $NVO

Princeton Capital Management LLC reduced its stake in Novo Nordisk A/S (NYSE:NVO) by 33.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 16,993 shares of the company’s stock after selling 8,675 shares during the quarter. Princeton Capital Management LLC’s holdings in Novo Nordisk A/S were worth $1,173,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Jennison Associates LLC raised its stake in Novo Nordisk A/S by 0.3% during the second quarter. Jennison Associates LLC now owns 18,885,343 shares of the company’s stock worth $1,303,466,000 after acquiring an additional 63,341 shares in the last quarter. Kingstone Capital Partners Texas LLC grew its holdings in shares of Novo Nordisk A/S by 301,443.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock worth $690,560,000 after purchasing an additional 10,001,898 shares during the last quarter. Folketrygdfondet grew its holdings in shares of Novo Nordisk A/S by 6.9% in the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company’s stock worth $661,202,000 after purchasing an additional 617,974 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Novo Nordisk A/S by 11.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company’s stock valued at $395,291,000 after purchasing an additional 576,900 shares during the last quarter. Finally, Sustainable Growth Advisers LP boosted its position in Novo Nordisk A/S by 3.8% in the first quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company’s stock valued at $384,923,000 after buying an additional 202,443 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NVO. HSBC set a $70.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, October 1st. Dbs Bank upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, August 22nd. Morgan Stanley cut Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and decreased their target price for the stock from $59.00 to $47.00 in a report on Monday, September 29th. Hsbc Global Res upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Finally, BNP Paribas upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 13th. Two equities research 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $59.20.

Novo Nordisk A/S Trading Down 4.0%

Shares of NYSE NVO opened at $46.54 on Friday. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $112.52. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The stock has a market cap of $207.80 billion, a price-to-earnings ratio of 12.79, a P/E/G ratio of 2.33 and a beta of 0.65. The company’s fifty day moving average is $55.54 and its 200-day moving average is $61.58.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, November 5th. The company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.25. The company had revenue of $11.74 billion for the quarter, compared to analyst estimates of $11.98 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Novo Nordisk A/S has set its FY 2025 guidance at EPS. Equities research analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Company Profile

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.