Engineers Gate Manager LP Sells 354,360 Shares of Novo Nordisk A/S $NVO

Key Points

• Engineers Gate Manager LP cut its Novo Nordisk stake by 97.3% in the second quarter, selling 354,360 shares and retaining 9,751 shares valued at approximately $467,000.
• Novo Nordisk shares opened at $38.19, down 3.1%, near the lower end of their 52-week range. Analysts maintain an overall Hold rating, with an average price target of $64.94.
• The company’s outlook is mixed: promising CagriSema trial results and pipeline developments offer growth potential, but intense competition from Eli Lilly and concerns about slowing GLP-1 momentum have pressured investor sentiment.

Engineers Gate Manager LP lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 97.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,751 shares of the company's stock after selling 354,360 shares during the period. Engineers Gate Manager LP's holdings in Novo Nordisk A/S were worth $467,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. NorthRock Partners LLC grew its holdings in Novo Nordisk A/S by 78.8% during the 2nd quarter. NorthRock Partners LLC now owns 12,559 shares of the company's stock valued at $602,000 after purchasing an additional 5,533 shares during the last quarter. RFG Advisory LLC raised its stake in Novo Nordisk A/S by 49.7% in the 2nd quarter. RFG Advisory LLC now owns 66,135 shares of the company's stock valued at $3,171,000 after purchasing an additional 21,962 shares during the last quarter. IFP Advisors Inc lifted its holdings in Novo Nordisk A/S by 24.8% in the 2nd quarter. IFP Advisors Inc now owns 30,253 shares of the company's stock valued at $1,450,000 after purchasing an additional 6,013 shares in the last quarter. Hudock Inc. purchased a new position in Novo Nordisk A/S in the 2nd quarter valued at $490,000. Finally, CORDA Investment Management LLC. boosted its stake in Novo Nordisk A/S by 0.4% during the 2nd quarter. CORDA Investment Management LLC. now owns 418,791 shares of the company's stock worth $20,077,000 after purchasing an additional 1,867 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

More Novo Nordisk A/S News

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

• Positive Sentiment: CagriSema delivered encouraging late-stage data. Novo said its investigational once-weekly drug produced greater weight loss than Eli Lilly’s tirzepatide in the REIMAGINE 5 trial, including approximately 21% weight loss in obesity. The results support CagriSema as a potential future competitor to Lilly’s Zepbound. CagriSema trial results
• Positive Sentiment: Pipeline diversification is advancing. Frehemgo and Sogroya received positive opinions from European regulators, while Singapore approved Wegovy for certain liver-related conditions. Novo also plans to pursue additional blockbuster drugs, including opportunities in hair loss and rare diseases. Rare disease pipeline
• Neutral Sentiment: Novo is open to a direct NYSE listing. CEO Mike Doustdar said a direct New York listing could improve the company’s U.S. profile, where more than half of revenue is generated. However, Novo is not currently pursuing a change from its existing American depositary receipt structure, so the near-term financial impact is limited. New York listing report
• Neutral Sentiment: Management is considering acquisitions and expanded AI use. Potential M&A could strengthen gaps in Novo’s obesity and broader drug pipeline, while its Anthropic partnership aims to improve drug discovery. These initiatives offer longer-term potential but add execution and spending uncertainty.
• Negative Sentiment: Investors were underwhelmed by the company’s long-term strategy. Novo’s capital-markets presentation and $23 billion risk-adjusted pipeline target did not sufficiently reassure investors that growth can withstand slowing GLP-1 momentum and semaglutide’s approaching patent cliff. Capital markets day coverage
• Negative Sentiment: Competitive pressure remains intense. Eli Lilly leads Novo in GLP-1 market share and investor sentiment, while Viking Therapeutics’ positive maintenance data highlighted the threat from emerging drugs with less frequent dosing. Jefferies maintained a Hold rating, reinforcing cautious sentiment. Competition analysis

Novo Nordisk A/S Stock Down 3.1%

NVO opened at $38.19 on Thursday. The firm has a market cap of $170.51 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 1.30 and a beta of 0.74. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.66 and a current ratio of 0.87. The firm's 50-day simple moving average is $46.21 and its 200-day simple moving average is $43.87. Novo Nordisk A/S has a twelve month low of $35.12 and a twelve month high of $64.16.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $0.94 EPS for the quarter. The business had revenue of $11.98 billion for the quarter. Novo Nordisk A/S had a net margin of 35.36% and a return on equity of 58.61%. Equities research analysts anticipate that Novo Nordisk A/S will post 3.52 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a dividend, which was paid on Tuesday, August 25th. Investors of record on Monday, August 17th were paid a dividend of $0.5786 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a yield of 258.0%. Novo Nordisk A/S's dividend payout ratio (DPR) is currently 19.80%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Zacks Research raised shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Nordea Equity Research raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Friday, June 19th. Berenberg Bank set a $47.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, August 12th. HSBC reaffirmed a "hold" rating on shares of Novo Nordisk A/S in a research report on Thursday, September 10th. Finally, Wall Street Zen lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $64.94.

About Novo Nordisk A/S

Novo Nordisk A/S is a Danish healthcare company headquartered in Bagsværd, Denmark. Founded in 1923, the company develops and manufactures pharmaceutical products focused primarily on diabetes and obesity care, as well as treatments for rare blood disorders and growth disorders.

Its diabetes portfolio includes insulin products and medicines in the glucagon-like peptide-1 (GLP-1) class, including Ozempic, Rybelsus and Wegovy. The company also offers treatments for obesity, hemophilia and other rare conditions, along with growth hormone therapies.

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