Magellan Asset Management Ltd Sells 928,021 Shares of Novo Nordisk A/S $NVO

Magellan Asset Management Ltd lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 35.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,678,195 shares of the company’s stock after selling 928,021 shares during the quarter. Novo Nordisk A/S comprises about 1.3% of Magellan Asset Management Ltd’s portfolio, making the stock its 28th largest holding. Magellan Asset Management Ltd’s holdings in Novo Nordisk A/S were worth $115,829,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Stone House Investment Management LLC acquired a new position in Novo Nordisk A/S in the 1st quarter worth about $30,000. NewSquare Capital LLC lifted its holdings in shares of Novo Nordisk A/S by 174.1% in the second quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock valued at $31,000 after purchasing an additional 282 shares in the last quarter. Disciplina Capital Management LLC grew its holdings in shares of Novo Nordisk A/S by 162.3% in the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock valued at $33,000 after acquiring an additional 297 shares in the last quarter. Dagco Inc. purchased a new stake in Novo Nordisk A/S in the first quarter worth $35,000. Finally, Mid American Wealth Advisory Group Inc. bought a new stake in Novo Nordisk A/S during the 2nd quarter valued at $37,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 1.9%

NYSE NVO opened at $45.62 on Friday. 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 12 month low of $45.05 and a 12 month high of $112.52. The firm’s fifty day moving average price is $55.32 and its 200 day moving average price is $61.49. The company has a market capitalization of $203.69 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 2.33 and a beta of 0.65.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, November 5th. The company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.25. The company had revenue of $11.74 billion during the quarter, compared to the consensus estimate of $11.98 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Novo Nordisk A/S has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NVO has been the subject of several recent research reports. Barclays reissued an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Zacks Research upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. HSBC set a $70.00 price target on Novo Nordisk A/S in a report on Wednesday, October 1st. Hsbc Global Res upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Finally, TD Cowen reduced their price target on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $59.20.

About Novo Nordisk A/S

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.