Peloton Wealth Strategists Has $3.11 Million Stock Position in Novo Nordisk A/S $NVO

Peloton Wealth Strategists boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 65.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,180 shares of the company’s stock after purchasing an additional 24,300 shares during the quarter. Peloton Wealth Strategists’ holdings in Novo Nordisk A/S were worth $3,113,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Smith Chas P & Associates PA Cpas grew its holdings in shares of Novo Nordisk A/S by 105.3% during the 3rd quarter. Smith Chas P & Associates PA Cpas now owns 405,425 shares of the company’s stock worth $22,497,000 after purchasing an additional 207,959 shares in the last quarter. Clifford Swan Investment Counsel LLC raised its stake in shares of Novo Nordisk A/S by 13.7% in the third 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 in the last quarter. Quantbot Technologies LP bought a new position in Novo Nordisk A/S in the third quarter worth $3,171,000. Romano Brothers AND Company boosted its stake in Novo Nordisk A/S by 704.0% during the fourth quarter. Romano Brothers AND Company now owns 34,236 shares of the company’s stock worth $1,742,000 after buying an additional 29,978 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in Novo Nordisk A/S in the 3rd quarter valued at $19,519,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Novo Nordisk A/S

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Novo Nordisk A/S in a report on Tuesday, February 24th. TD Cowen lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $42.00 price target for the company. in a research report on Tuesday, March 10th. Deutsche Bank Aktiengesellschaft cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, February 23rd. 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 note on Monday, March 2nd. Finally, Zacks Research upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $65.56.

Novo Nordisk A/S Trading Down 0.7%

NVO stock opened at $43.59 on Wednesday. The business has a fifty day moving average price of $42.55 and a 200 day moving average price of $45.94. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.79 and a quick ratio of 0.56. Novo Nordisk A/S has a fifty-two week low of $35.12 and a fifty-two week high of $75.78. The stock has a market capitalization of $194.65 billion, a price-to-earnings ratio of 10.23, a P/E/G ratio of 3.92 and a beta of 0.78.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $1.03 EPS for the quarter. The company had revenue of $10.85 billion for the quarter. Novo Nordisk A/S had a return on equity of 63.31% and a net margin of 37.23%. Analysts expect that Novo Nordisk A/S will post 3.45 EPS for the current fiscal year.

About Novo Nordisk A/S

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.