Peloton Wealth Strategists Buys 24,300 Shares of Novo Nordisk A/S $NVO

Peloton Wealth Strategists increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 65.9% in the fourth quarter, Holdings Channel reports. The firm owned 61,180 shares of the company’s stock after buying an additional 24,300 shares during the quarter. Peloton Wealth Strategists’ holdings in Novo Nordisk A/S were worth $3,113,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Godfrey Financial Associates Inc. acquired a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at approximately $25,000. WealthCollab LLC grew its holdings in Novo Nordisk A/S by 93.5% during the fourth quarter. WealthCollab LLC now owns 538 shares of the company’s stock valued at $27,000 after purchasing an additional 260 shares during the period. American National Bank & Trust acquired a new stake in Novo Nordisk A/S in the fourth quarter worth $28,000. Jackson Grant Investment Advisers Inc. acquired a new stake in Novo Nordisk A/S in the fourth quarter worth $29,000. Finally, Maseco LLP bought a new position in shares of Novo Nordisk A/S during the fourth quarter worth $29,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S News Roundup

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

• Positive Sentiment: Novo Nordisk said it plans to seek Chinese regulatory approval for its oral Wegovy pill, which could expand its obesity franchise into one of the world’s largest potential markets and strengthen the company’s long-term growth outlook. Reuters: Novo Nordisk to seek regulatory approval for Wegovy pill in China soon, says CEO
• Positive Sentiment: Reports that the company is moving closer to an oral Wegovy filing in China reinforce the view that Novo Nordisk is broadening its weight-loss pipeline beyond injectables, which could help it compete more effectively with Eli Lilly. Article: Novo Nordisk (CPSE:NOVO B) Prepares China Filing For Oral Wegovy Pill
• Neutral Sentiment: Several market-watch and Zacks items indicate that Novo Nordisk remains a heavily followed stock, but they do not add major new fundamental information beyond confirming investor interest and ongoing debate about the outlook. Article: Novo Nordisk A/S (NVO) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: A hacking group claimed it stole more than a terabyte of data from Novo Nordisk and attempted to extort $25 million, which raises cybersecurity and reputational concerns that could weigh on sentiment if the breach is confirmed or grows worse. Reuters: Hacking group claims major hack of Novo Nordisk and attempted $25 million extortion

Novo Nordisk A/S Trading Down 0.7%

NYSE NVO opened at $43.59 on Wednesday. The stock has a market capitalization of $194.65 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 3.92 and a beta of 0.78. The stock’s 50 day moving average price is $42.55 and its two-hundred day moving average price is $45.94. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.56 and a current ratio of 0.79. Novo Nordisk A/S has a 52 week low of $35.12 and a 52 week high of $75.78.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $1.03 earnings per share for the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. The company had revenue of $10.85 billion during the quarter. As a group, analysts anticipate that Novo Nordisk A/S will post 3.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NVO has been the subject of a number of recent analyst reports. Sanford C. Bernstein initiated coverage on shares of Novo Nordisk A/S in a research report on Wednesday, March 18th. They issued an “outperform” rating and a $175.00 price objective for the company. Wall Street Zen raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Wolfe Research began coverage on Novo Nordisk A/S in a report on Thursday, March 26th. They issued a “peer perform” rating for the company. Weiss Ratings cut Novo Nordisk A/S from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 22nd. Finally, Kepler Capital Markets lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Four equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $65.56.

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.