Empowered Funds LLC Has $5.11 Million Stock Position in Novo Nordisk A/S $NVO

Empowered Funds LLC boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 62.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,083 shares of the company’s stock after purchasing an additional 28,613 shares during the quarter. Empowered Funds LLC’s holdings in Novo Nordisk A/S were worth $5,113,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Lockheed Martin Investment Management Co. raised its position in shares of Novo Nordisk A/S by 179.4% during the 2nd quarter. Lockheed Martin Investment Management Co. now owns 43,450 shares of the company’s stock valued at $2,999,000 after acquiring an additional 27,900 shares during the last quarter. Unified Investment Management acquired a new stake in shares of Novo Nordisk A/S during the second quarter worth $692,000. Guild Investment Management Inc. increased its holdings in Novo Nordisk A/S by 20.7% in the second quarter. Guild Investment Management Inc. now owns 36,995 shares of the company’s stock valued at $2,553,000 after purchasing an additional 6,345 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Novo Nordisk A/S by 15,919.9% in the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock valued at $72,523,000 after buying an additional 1,038,137 shares during the period. Finally, Norden Group LLC boosted its holdings in Novo Nordisk A/S by 216.3% during the second quarter. Norden Group LLC now owns 96,332 shares of the company’s stock worth $6,649,000 after buying an additional 65,877 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NVO has been the subject of a number of recent analyst reports. Morgan Stanley cut Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and lowered their price target for the company from $59.00 to $47.00 in a research note on Monday, September 29th. 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. Sanford C. Bernstein raised shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 9th. BMO Capital Markets reissued a “market perform” rating on shares of Novo Nordisk A/S in a report on Monday. Finally, Berenberg Bank raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $59.20.

Novo Nordisk A/S Trading Up 0.1%

Shares of NYSE:NVO opened at $47.65 on Friday. The firm has a market cap of $212.76 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 2.33 and a beta of 0.65. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $112.52. The company’s fifty day simple moving average is $53.92 and its 200 day simple moving average is $60.38. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.25. The firm had revenue of $11.74 billion during the quarter, compared to analysts’ expectations 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. As a group, research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal 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.