200,465 Shares in Novo Nordisk A/S $NVO Acquired by Opal Capital LLC

Key Points

• Opal Capital LLC bought a new stake in Novo Nordisk during the fourth quarter, acquiring 200,465 shares worth about $10.2 million. The position represents 2.6% of Opal’s holdings and is its seventh-largest.
• Novo Nordisk is drawing attention for its oral Wegovy pill, with the company planning to seek regulatory approval in China. That move could expand its obesity business into a major market and help it compete more effectively with Eli Lilly.
• Analyst sentiment remains cautious: the stock carries an average “Hold” rating and a consensus target price of $65.56, while shares recently traded around $43.59. Novo Nordisk also faces a reported cybersecurity threat after a hacking group claimed it stole data and demanded extortion money.

Opal Capital LLC purchased a new position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 200,465 shares of the company's stock, valued at approximately $10,199,000. Novo Nordisk A/S accounts for 2.6% of Opal Capital LLC's holdings, making the stock its 7th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Capital International Investors increased its holdings in Novo Nordisk A/S by 52.4% during the 3rd quarter. Capital International Investors now owns 17,713,424 shares of the company's stock worth $982,969,000 after purchasing an additional 6,092,192 shares in the last quarter. Loomis Sayles & Co. L P increased its holdings in Novo Nordisk A/S by 6.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 17,135,384 shares of the company's stock worth $871,848,000 after purchasing an additional 969,916 shares in the last quarter. Franklin Resources Inc. increased its holdings in Novo Nordisk A/S by 5.1% during the 4th quarter. Franklin Resources Inc. now owns 14,702,508 shares of the company's stock worth $748,064,000 after purchasing an additional 717,719 shares in the last quarter. Morgan Stanley increased its holdings in Novo Nordisk A/S by 3.5% during the 4th quarter. Morgan Stanley now owns 12,842,089 shares of the company's stock worth $653,406,000 after purchasing an additional 428,660 shares in the last quarter. Finally, State Street Corp increased its holdings in Novo Nordisk A/S by 1.0% during the 3rd quarter. State Street Corp now owns 6,106,836 shares of the company's stock worth $340,125,000 after purchasing an additional 59,153 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

Key Headlines Impacting Novo Nordisk A/S

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

Analyst Ratings Changes

A number of analysts have commented on NVO shares. Morgan Stanley raised Novo Nordisk A/S from an "underweight" rating to an "equal weight" rating and set a $40.00 price objective for the company in a report on Tuesday, March 3rd. Zacks Research raised Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a report on Tuesday, March 10th. Nordea Equity Research lowered Novo Nordisk A/S to a "hold" rating in a report on Tuesday, February 24th. Wolfe Research started coverage on Novo Nordisk A/S in a report on Thursday, March 26th. They set a "peer perform" rating for the company. Finally, Citigroup reissued a "neutral" rating on shares of Novo Nordisk A/S in a report on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $65.56.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $43.59 on Wednesday. The company has a market capitalization of $194.65 billion, a P/E ratio of 10.23, a price-to-earnings-growth ratio of 3.92 and a beta of 0.78. The company's 50-day moving average is $42.55 and its 200 day moving average 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 fifty-two week low of $35.12 and a fifty-two week high of $75.78.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $1.03 earnings per share (EPS) for the quarter. The business had revenue of $10.85 billion during the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. On average, equities research analysts forecast that Novo Nordisk A/S will post 3.45 earnings per share for the current year.

About Novo Nordisk A/S

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.

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