Novo Nordisk A/S $NVO Shares Sold by BLKBRD Asset Management LP

BLKBRD Asset Management LP cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 75.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 67,544 shares of the company’s stock after selling 211,470 shares during the period. Novo Nordisk A/S comprises approximately 4.6% of BLKBRD Asset Management LP’s holdings, making the stock its 15th biggest position. BLKBRD Asset Management LP’s holdings in Novo Nordisk A/S were worth $3,437,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Smith Chas P & Associates PA Cpas lifted its position in Novo Nordisk A/S by 105.3% in the 3rd quarter. Smith Chas P & Associates PA Cpas now owns 405,425 shares of the company’s stock valued at $22,497,000 after purchasing an additional 207,959 shares during the last quarter. Clifford Swan Investment Counsel LLC lifted its position in Novo Nordisk A/S by 13.7% in the 3rd quarter. Clifford Swan Investment Counsel LLC now owns 311,168 shares of the company’s stock valued at $17,267,000 after purchasing an additional 37,453 shares during the last quarter. Quantbot Technologies LP bought a new stake in Novo Nordisk A/S in the 3rd quarter valued at about $3,171,000. Romano Brothers AND Company lifted its position in Novo Nordisk A/S by 704.0% in the 4th quarter. Romano Brothers AND Company now owns 34,236 shares of the company’s stock valued at $1,742,000 after purchasing an additional 29,978 shares during the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in Novo Nordisk A/S in the 3rd quarter valued at about $19,519,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on NVO shares. Morgan Stanley upgraded shares of Novo Nordisk A/S from an “underweight” rating to an “equal weight” rating and set a $40.00 price objective on the stock in a research report on Tuesday, March 3rd. Wolfe Research started coverage on shares of Novo Nordisk A/S in a research report on Thursday, March 26th. They issued a “peer perform” rating on the stock. Zacks Research upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Nordea Equity Research downgraded shares of Novo Nordisk A/S to a “hold” rating in a research report on Tuesday, February 24th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $41.00 price objective (down from $63.00) on shares of Novo Nordisk A/S in a research report on Monday, March 2nd. Four analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $65.56.

More Novo Nordisk A/S News

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

• Positive Sentiment: Novo Nordisk said it plans to seek Chinese regulatory approval for its oral Wegovy pill, which could expand its obesity franchise into one of the world’s largest potential markets and strengthen the company’s long-term growth outlook. Reuters: Novo Nordisk to seek regulatory approval for Wegovy pill in China soon, says CEO
• Positive Sentiment: Reports that the company is moving closer to an oral Wegovy filing in China reinforce the view that Novo Nordisk is broadening its weight-loss pipeline beyond injectables, which could help it compete more effectively with Eli Lilly. Article: Novo Nordisk (CPSE:NOVO B) Prepares China Filing For Oral Wegovy Pill
• Neutral Sentiment: Several market-watch and Zacks items indicate that Novo Nordisk remains a heavily followed stock, but they do not add major new fundamental information beyond confirming investor interest and ongoing debate about the outlook. Article: Novo Nordisk A/S (NVO) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: A hacking group claimed it stole more than a terabyte of data from Novo Nordisk and attempted to extort $25 million, which raises cybersecurity and reputational concerns that could weigh on sentiment if the breach is confirmed or grows worse. Reuters: Hacking group claims major hack of Novo Nordisk and attempted $25 million extortion

Novo Nordisk A/S Stock Down 0.7%

NVO stock opened at $43.59 on Wednesday. Novo Nordisk A/S has a 52 week low of $35.12 and a 52 week high of $75.78. The company has a market capitalization of $194.65 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 3.92 and a beta of 0.78. The firm’s 50-day moving average is $42.55 and its two-hundred day moving average is $45.94. 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 released its quarterly earnings results on Tuesday, March 31st. The company reported $1.03 EPS for the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. The company had revenue of $10.85 billion for the quarter. On average, analysts forecast that Novo Nordisk A/S will post 3.45 earnings per share for the current fiscal 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.