Bleakley Financial Group LLC Boosts Stock Holdings in Novo Nordisk A/S $NVO

Bleakley Financial Group LLC grew its holdings in Novo Nordisk A/S (NYSE:NVO) by 20.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 75,618 shares of the company’s stock after buying an additional 13,075 shares during the quarter. Bleakley Financial Group LLC’s holdings in Novo Nordisk A/S were worth $2,779,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NVO. Boston Partners purchased a new stake in shares of Novo Nordisk A/S during the 3rd quarter worth approximately $310,199,000. Price T Rowe Associates Inc. MD increased its position in Novo Nordisk A/S by 99.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,688,262 shares of the company’s stock worth $492,940,000 after purchasing an additional 4,836,285 shares in the last quarter. Voloridge Investment Management LLC raised its position in shares of Novo Nordisk A/S by 851.6% in the fourth quarter. Voloridge Investment Management LLC now owns 4,807,279 shares of the company’s stock valued at $244,594,000 after buying an additional 4,302,126 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Novo Nordisk A/S by 138.9% during the 4th quarter. Bank of Montreal Can now owns 2,525,827 shares of the company’s stock worth $128,514,000 after purchasing an additional 1,468,409 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in Novo Nordisk A/S in the 4th quarter worth about $59,882,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Key Stories Impacting Novo Nordisk A/S

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

• Positive Sentiment: Novo Nordisk won EU approval for its once-daily Wegovy pill, making it the first oral GLP-1 weight-loss treatment cleared across the European Union and expanding its obesity market reach. Novo Nordisk wins EU approval for Wegovy weight-loss pill
• Positive Sentiment: Novo Nordisk updated investors on a large Phase 3 heart failure-obesity study, suggesting continued pipeline progress in cardiometabolic disease, a major long-term growth area. Novo Nordisk Expands Cardiometabolic Reach With New Heart Failure–Obesity Trial
• Positive Sentiment: Fresh hemophilia trial results for Mim8/concizumab showed sustained efficacy and safety, expanding evidence for Novo’s rare blood disorder portfolio. Novo Nordisk (CPSE:NOVO B) Reports Fresh Hemophilia Trial Wins In Adults And Children
• Positive Sentiment: Novo Nordisk said most patients are choosing its obesity pill over Eli Lilly’s newer entrant, reinforcing confidence in its competitive position in the weight-loss drug market. It’s been three months since Lilly launched its obesity pill. Most people are taking Novo’s pill instead.
• Neutral Sentiment: Novo Nordisk also signed an agreement to evaluate a semaglutide implant, an early-stage move that adds optionality but is too preliminary to affect near-term results. Novo Nordisk signs pact to assess semaglutide implant
• Negative Sentiment: Sun Pharma won South Africa approval to launch a generic version of semaglutide, highlighting rising competitive pressure on Novo’s diabetes and obesity blockbusters. India’s Sun Pharma wins South Africa approval to launch generic Ozempic
• Negative Sentiment: Zacks Research downgraded Novo Nordisk to “strong sell,” which could weigh on sentiment despite the company’s positive operating news. Novo Nordisk A/S was downgraded by Zacks Research from “hold” to “strong sell”

Wall Street Analyst Weigh In

NVO has been the subject of a number of research analyst reports. Citigroup reaffirmed a “neutral” rating on shares of Novo Nordisk A/S in a research note on Tuesday, May 12th. Nordea Equity Research raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Friday, June 19th. Zacks Research downgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a report on Monday. Wall Street Zen lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Wolfe Research assumed coverage on shares of Novo Nordisk A/S in a research note on Thursday, March 26th. They set a “peer perform” rating on the stock. Five research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $65.56.

Novo Nordisk A/S Price Performance

NVO opened at $50.56 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.79 and a debt-to-equity ratio of 0.59. Novo Nordisk A/S has a 52-week low of $35.12 and a 52-week high of $71.79. The company has a 50 day moving average of $45.89 and a two-hundred day moving average of $45.80. The company has a market cap of $225.77 billion, a P/E ratio of 11.87, a P/E/G ratio of 4.48 and a beta of 0.77.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Tuesday, March 31st. The company reported $1.03 EPS for the quarter. The business had revenue of $10.85 billion for the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. On average, analysts expect that Novo Nordisk A/S will post 3.38 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.