Fisher Asset Management LLC Sells 538,681 Shares of Novo Nordisk A/S $NVO

Fisher Asset Management LLC cut its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,784,222 shares of the company’s stock after selling 538,681 shares during the period. Fisher Asset Management LLC’s holdings in Novo Nordisk A/S were worth $497,821,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVO. Franklin Resources Inc. boosted its stake in shares of Novo Nordisk A/S by 4,190.8% during the third quarter. Franklin Resources Inc. now owns 13,984,789 shares of the company’s stock valued at $776,016,000 after purchasing an additional 13,658,867 shares in the last quarter. Capital International Investors lifted its position in Novo Nordisk A/S by 52.4% during the third quarter. Capital International Investors now owns 17,713,424 shares of the company’s stock valued at $982,969,000 after acquiring an additional 6,092,192 shares during the last quarter. Boston Partners purchased a new stake in Novo Nordisk A/S during the third quarter valued at approximately $310,199,000. Clear Street Group Inc. purchased a new stake in Novo Nordisk A/S during the third quarter valued at approximately $56,378,000. Finally, Armistice Capital LLC purchased a new stake in Novo Nordisk A/S during the third quarter valued at approximately $40,841,000. 11.54% of the stock is currently owned by institutional investors.

Trending Headlines about Novo Nordisk A/S

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

• Positive Sentiment: European regulators recommended approval of Novo Nordisk’s Wegovy 7.2 mg pen, with trial data showing up to 20.7% mean weight loss, strengthening the company’s obesity-drug pipeline and supporting future EU sales. Article Title
• Positive Sentiment: The CHMP also recommended approval for Novo Nordisk’s Wegovy pill, potentially making it the first oral GLP-1 obesity drug in the EU and broadening the company’s treatment options. Article Title
• Positive Sentiment: Reuters reported Novo is using AI to speed drug development and expand its role in India, which could help it bring new products to market faster and regain momentum in obesity. Article Title
• Neutral Sentiment: Industry chatter about Lilly’s obesity-drug breakthrough and reports that both Lilly and Novo drugs may have cancer-prevention benefits highlight strong demand in the class, but also underscore intensifying competition and a larger long-term market. Article Title
• Negative Sentiment: Eli Lilly’s retatrutide posted about 28% weight loss in late-stage testing, setting a new benchmark that increases pressure on Novo Nordisk to keep innovating in obesity and GLP-1 therapies. Article Title

Analysts Set New Price Targets

A number of research firms recently commented on NVO. Wall Street Zen raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings cut shares of Novo Nordisk A/S from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 22nd. BMO Capital Markets reissued a “market perform” rating on shares of Novo Nordisk A/S in a research report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday, February 23rd. Finally, Sanford C. Bernstein began coverage on shares of Novo Nordisk A/S in a research report on Wednesday, March 18th. They set an “outperform” rating and a $175.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S has an average rating of “Hold” and an average price target of $65.56.

Novo Nordisk A/S Trading Down 0.1%

NYSE NVO opened at $44.91 on Monday. The company has a fifty day simple moving average of $40.29 and a two-hundred day simple moving average of $46.44. The stock has a market cap of $200.52 billion, a P/E ratio of 10.54, a P/E/G ratio of 4.01 and a beta of 0.77. Novo Nordisk A/S has a 12-month low of $35.12 and a 12-month high of $81.44. 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 (NYSE:NVO) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $1.03 earnings per share (EPS) for the quarter. The business had revenue of $10.85 billion during the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. On average, analysts forecast that Novo Nordisk A/S will post 3.46 earnings per share for the current year.

Novo Nordisk A/S Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.