Frank Rimerman Advisors LLC Purchases 4,173 Shares of Novo Nordisk A/S $NVO

Frank Rimerman Advisors LLC boosted its position in Novo Nordisk A/S (NYSE:NVO) by 19.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,615 shares of the company’s stock after purchasing an additional 4,173 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Novo Nordisk A/S were worth $1,768,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NVO. Kingstone Capital Partners Texas LLC grew its position in shares of Novo Nordisk A/S by 301,443.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock worth $690,560,000 after buying an additional 10,001,898 shares during the period. Nuveen LLC purchased a new stake in Novo Nordisk A/S in the first quarter worth about $370,272,000. Amundi increased its stake in shares of Novo Nordisk A/S by 49.1% during the first quarter. Amundi now owns 4,938,507 shares of the company’s stock valued at $331,576,000 after purchasing an additional 1,627,051 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Novo Nordisk A/S by 101.4% during the second quarter. Bank of Montreal Can now owns 2,475,300 shares of the company’s stock valued at $170,845,000 after purchasing an additional 1,246,467 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Novo Nordisk A/S by 15,919.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock worth $72,523,000 after purchasing an additional 1,038,137 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 1.9%

Shares of NYSE:NVO opened at $47.56 on Wednesday. The company has a market cap of $212.34 billion, a P/E ratio of 13.07, a PEG ratio of 2.33 and a beta of 0.65. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $112.52. The stock’s fifty day moving average price is $54.30 and its 200-day moving average price is $60.70.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, November 5th. The company reported $1.02 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 company had revenue of $11.74 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. Sell-side analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Analyst Ratings Changes

NVO has been the subject of a number of analyst reports. Morgan Stanley lowered Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and reduced their price objective for the company from $59.00 to $47.00 in a research report on Monday, September 29th. TD Cowen dropped their target price on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, August 19th. Sanford C. Bernstein upgraded Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 9th. Jefferies Financial Group assumed coverage on Novo Nordisk A/S in a research report on Monday, October 27th. They issued an “underperform” rating for the company. Finally, Hsbc Global Res upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $59.20.

Novo Nordisk A/S Profile

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.