Novo Nordisk A/S $NVO Stake Decreased by Russell Investments Group Ltd.

by · The Cerbat Gem

Russell Investments Group Ltd. cut its holdings in shares of Novo Nordisk A/S (NYSE:NVO – Free Report) by 27.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 162,711 shares of the company’s stock after selling 61,629 shares during the period. Russell Investments Group Ltd.’s holdings in Novo Nordisk A/S were worth $11,230,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Jennison Associates LLC grew its stake in shares of Novo Nordisk A/S by 0.3% in the second quarter. Jennison Associates LLC now owns 18,885,343 shares of the company’s stock worth $1,303,466,000 after purchasing an additional 63,341 shares in the last quarter. Kingstone Capital Partners Texas LLC lifted its holdings in Novo Nordisk A/S by 301,443.6% in the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock worth $690,560,000 after purchasing an additional 10,001,898 shares during the period. Sustainable Growth Advisers LP increased its stake in Novo Nordisk A/S by 11.7% during the 2nd quarter. Sustainable Growth Advisers LP now owns 6,192,636 shares of the company’s stock valued at $427,416,000 after buying an additional 649,390 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Novo Nordisk A/S by 11.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company’s stock worth $395,291,000 after buying an additional 576,900 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Novo Nordisk A/S in the 1st quarter worth approximately $370,272,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Trading Down 1.9%

Shares of NVO opened at $48.40 on Tuesday. Novo Nordisk A/S has a 1-year low of $43.08 and a 1-year high of $112.52. The business’s 50-day moving average price is $52.56 and its 200 day moving average price is $59.53. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $216.09 billion, a P/E ratio of 13.30, a P/E/G ratio of 2.33 and a beta of 0.65.

Novo Nordisk A/S (NYSE:NVO – Get Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.25. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The firm had revenue of $11.79 billion during the quarter, compared to the consensus estimate of $11.98 billion. Novo Nordisk A/S has set its FY 2025 guidance at EPS. Analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NVO shares. Jefferies Financial Group started coverage on Novo Nordisk A/S in a report on Monday, October 27th. They set an “underperform” rating on the stock. BMO Capital Markets lowered their price target on Novo Nordisk A/S from $50.00 to $46.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 25th. Berenberg Bank raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Wednesday, September 17th. Dbs Bank raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, August 22nd. Finally, Morgan Stanley lowered Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and lowered their target price for the stock from $59.00 to $47.00 in a report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $56.83.

Check Out Our Latest Stock Report on Novo Nordisk A/S

Novo Nordisk A/S Company Profile

(Free Report)

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.

Further Reading