Burkett Asset Management Ltd Makes New Investment in Novo Nordisk A/S $NVO

Key Points

• Burkett Asset Management opened a new position in Novo Nordisk, buying 35,835 shares worth about $1.82 million in the fourth quarter. The stake now represents roughly 1.8% of its portfolio.
• Institutional interest in Novo Nordisk remains mixed but active, with several funds increasing holdings while others initiated new positions. Overall, about 11.54% of the stock is held by institutional investors.
• Wall Street sentiment has turned more cautious: several firms cut ratings, and the stock currently carries an average Hold rating with a consensus price target of $65.56. Separately, recent news highlighted the UK approval of Novo’s Wegovy pill, which could support its obesity franchise despite a reported cybersecurity incident.

Burkett Asset Management Ltd bought a new position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 35,835 shares of the company's stock, valued at approximately $1,823,000. Novo Nordisk A/S comprises approximately 1.8% of Burkett Asset Management Ltd's investment portfolio, making the stock its 17th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smith Chas P & Associates PA Cpas lifted its stake in shares of Novo Nordisk A/S by 105.3% in the 3rd quarter. Smith Chas P & Associates PA Cpas now owns 405,425 shares of the company's stock valued at $22,497,000 after acquiring an additional 207,959 shares during the last quarter. Clifford Swan Investment Counsel LLC lifted its stake in shares of Novo Nordisk A/S by 13.7% in the 3rd quarter. Clifford Swan Investment Counsel LLC now owns 311,168 shares of the company's stock valued at $17,267,000 after acquiring an additional 37,453 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Novo Nordisk A/S in the 3rd quarter valued at $3,171,000. Romano Brothers AND Company lifted its stake in shares of 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 last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in shares of Novo Nordisk A/S in the 3rd quarter valued at $19,519,000. 11.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Kepler Capital Markets cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Tuesday, February 24th. Morgan Stanley upgraded Novo Nordisk A/S from an "underweight" rating to an "equal weight" rating and set a $40.00 price target for the company in a research note on Tuesday, March 3rd. Weiss Ratings cut Novo Nordisk A/S from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Monday, February 23rd. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $41.00 price target (down from $63.00) on shares of Novo Nordisk A/S in a research note on Monday, March 2nd. Four investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $65.56.

More Novo Nordisk A/S News

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

• Positive Sentiment: The U.K. Medicines and Healthcare products Regulatory Agency approved Novo Nordisk’s Wegovy pill, making it the first daily GLP-1 weight-loss tablet cleared in the country and opening another major market for the company’s obesity franchise. UK approves Novo weight-loss pill to edge open European market
• Positive Sentiment: Multiple reports highlighted that the approval could strengthen Novo Nordisk’s competitive position versus Eli Lilly by expanding access to an oral alternative to injectable obesity treatments. Novo Nordisk's Wegovy Weight Loss Pill Approved in the U.K.
• Positive Sentiment: Analyst-style and market commentary noted that Novo Nordisk’s obesity pipeline remains a key growth driver, with recent Phase 3 data for CagriSem adding to enthusiasm around its longer-term GLP-1 strategy. Novo Nordisk (NVO): Top 10 Large Cap Value Stocks to Buy Now
• Neutral Sentiment: Market wrap articles showed NVO outperforming the broader market in recent trading, reflecting renewed investor interest after the regulatory win. Novo Nordisk (NVO) Outpaces Stock Market Gains: What You Should Know
• Negative Sentiment: Novo Nordisk also disclosed a cybersecurity incident involving unauthorized access to internal IT systems and possible copying of non-public data, which could weigh on sentiment if the breach proves material. Novo Nordisk hit by cyber incident, probes data breach
• Negative Sentiment: A Reuters report said some U.S. employers may drop coverage of GLP-1 obesity drugs in 2027, a potential headwind for future demand growth across the category, including Wegovy. Some US employers to drop coverage of GLP-1 obesity drugs in 2027 as use increases

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $43.98 on Friday. The company has a market capitalization of $196.37 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 3.83 and a beta of 0.78. Novo Nordisk A/S has a twelve month low of $35.12 and a twelve month high of $81.44. The stock has a fifty day simple moving average of $42.13 and a 200 day simple moving average of $46.01. The company has a quick ratio of 0.56, a current ratio of 0.79 and a debt-to-equity ratio of 0.59.

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 for the quarter. The business 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%. Sell-side analysts expect that Novo Nordisk A/S will post 3.45 EPS for the current year.

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.