327,357 Shares in Novo Nordisk A/S $NVO Purchased by Simplify Asset Management Inc.

Key Points

• Simplify Asset Management bought 327,357 shares of Novo Nordisk in Q1, a stake valued at about $12.03 million and representing 0.2% of its portfolio.
• Other institutional investors have also been adding to NVO, and overall 11.54% of the stock is currently held by institutions.
• Novo Nordisk recently reported $1.03 EPS on $10.85 billion in revenue, while Wall Street currently has a Hold consensus with a $65.56 average price target.

Simplify Asset Management Inc. purchased a new stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 327,357 shares of the company's stock, valued at approximately $12,030,000. Novo Nordisk A/S comprises about 0.2% of Simplify Asset Management Inc.'s investment portfolio, making the stock its 17th largest holding.

A number of other hedge funds have also recently bought and sold shares of NVO. CIBC Bancorp USA Inc. acquired a new position in shares of Novo Nordisk A/S during the 3rd quarter worth approximately $19,519,000. Romano Brothers AND Company raised its stake in Novo Nordisk A/S by 704.0% in the 4th quarter. Romano Brothers AND Company now owns 34,236 shares of the company's stock valued at $1,742,000 after acquiring an additional 29,978 shares during the period. Capital Investment Counsel LLC acquired a new stake in Novo Nordisk A/S during the 4th quarter valued at $3,727,000. Marathon Capital Management lifted its holdings in Novo Nordisk A/S by 43.9% during the 4th quarter. Marathon Capital Management now owns 82,705 shares of the company's stock valued at $4,208,000 after purchasing an additional 25,230 shares during the last quarter. Finally, CWA Asset Management Group LLC boosted its position in Novo Nordisk A/S by 131.9% during the fourth quarter. CWA Asset Management Group LLC now owns 76,993 shares of the company's stock worth $3,917,000 after purchasing an additional 43,793 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO opened at $50.39 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.79 and a quick ratio of 0.56. The firm has a market cap of $224.97 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 4.60 and a beta of 0.77. The stock's fifty day moving average price is $44.70 and its two-hundred day moving average price is $45.85. Novo Nordisk A/S has a one year low of $35.12 and a one year high of $71.79.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its earnings results on Tuesday, March 31st. The company reported $1.03 earnings per share for the quarter. The company had revenue of $10.85 billion during the quarter. Novo Nordisk A/S had a return on equity of 63.31% and a net margin of 37.23%. On average, equities analysts forecast that Novo Nordisk A/S will post 3.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NVO shares. Citigroup reissued a "neutral" rating on shares of Novo Nordisk A/S in a research report on Tuesday, May 12th. Weiss Ratings downgraded shares of Novo Nordisk A/S from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, April 22nd. Nordea Equity Research upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Friday, June 19th. TD Cowen cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $42.00 price target on the stock. in a report on Tuesday, March 10th. Finally, Sanford C. Bernstein began coverage on shares of Novo Nordisk A/S in a research report on Wednesday, March 18th. They set an "outperform" rating and a $175.00 price objective for the company. Five research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Novo Nordisk A/S has a consensus rating of "Hold" and a consensus price target of $65.56.

Key Headlines Impacting Novo Nordisk A/S

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

• Positive Sentiment: Several valuation-focused articles say Novo Nordisk may be undervalued, with DCF and market-multiple checks suggesting the stock could trade below intrinsic value. Analysts also point to Medicare GLP-1 coverage as a potential demand tailwind for Ozempic/Wegovy and the broader GLP-1 franchise. Novo Nordisk (NVO) Stock May Be 48% Undervalued On Medicare GLP 1 Coverage
• Positive Sentiment: Research highlighting the fast-growing global diabetes drug market reinforces Novo Nordisk’s long-term growth opportunity, with GLP-1 therapies still central to the company’s competitive position. Novo Nordisk (NVO) Is At The Center Of A Fast Growing Diabetes Drug Market
• Positive Sentiment: Independent valuation checks and a strong GF Score also suggest Novo Nordisk remains attractive despite recent volatility, supporting the case that the stock may have room to recover further. Novo Nordisk AS (NVO) Stock Up 3.4% and Still Undervalued -- GF Score: 76/100

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.