IFP Advisors Inc Has $1.37 Million Position in Novo Nordisk A/S $NVO

IFP Advisors Inc grew its holdings in Novo Nordisk A/S (NYSE:NVO) by 96.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,917 shares of the company’s stock after purchasing an additional 13,208 shares during the quarter. IFP Advisors Inc’s holdings in Novo Nordisk A/S were worth $1,370,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Smith Chas P & Associates PA Cpas raised its position in shares of Novo Nordisk A/S by 105.3% during the third quarter. Smith Chas P & Associates PA Cpas now owns 405,425 shares of the company’s stock worth $22,497,000 after acquiring an additional 207,959 shares during the last quarter. Clifford Swan Investment Counsel LLC raised its position in shares of Novo Nordisk A/S by 13.7% during the third quarter. Clifford Swan Investment Counsel LLC now owns 311,168 shares of the company’s stock worth $17,267,000 after acquiring an additional 37,453 shares during the last quarter. Markel Group Inc. raised its position in shares of Novo Nordisk A/S by 4.9% during the third quarter. Markel Group Inc. now owns 2,368,649 shares of the company’s stock worth $131,436,000 after acquiring an additional 110,061 shares during the last quarter. WCM Investment Management LLC raised its position in shares of Novo Nordisk A/S by 3.7% during the third quarter. WCM Investment Management LLC now owns 2,732,182 shares of the company’s stock worth $151,636,000 after acquiring an additional 97,477 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Novo Nordisk A/S during the third quarter worth $3,171,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S News Summary

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Kepler Capital Markets downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Citigroup restated a “neutral” rating on shares of Novo Nordisk A/S in a research report on Tuesday, May 12th. Zacks Research upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Morgan Stanley upgraded Novo Nordisk A/S from an “underweight” rating to an “equal weight” rating and set a $40.00 target price for the company in a research report on Tuesday, March 3rd. Finally, Nordea Equity Research downgraded Novo Nordisk A/S to a “hold” rating in a research report on Tuesday, February 24th. Four research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $65.56.

Novo Nordisk A/S Trading Up 1.2%

NYSE NVO opened at $44.91 on Friday. The stock has a 50-day simple moving average of $40.29 and a 200 day simple moving average of $46.46. The company has a market capitalization of $200.52 billion, a PE ratio of 10.54, a P/E/G ratio of 4.01 and a beta of 0.77. 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 has a 12 month low of $35.12 and a 12 month high of $81.44.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Tuesday, March 31st. The company reported $1.03 EPS for the quarter. The business had revenue of $10.85 billion during the quarter. Novo Nordisk A/S had a return on equity of 63.31% and a net margin of 37.23%. Research analysts forecast that Novo Nordisk A/S will post 3.46 EPS for the current year.

Novo Nordisk A/S Company 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.