Fisher Asset Management LLC Sells 538,681 Shares of Novo Nordisk A/S $NVO

Key Points

• Fisher Asset Management reduced its Novo Nordisk stake by 5.2% in the fourth quarter, selling 538,681 shares and leaving it with 9.78 million shares worth about $497.8 million.
• Novo Nordisk’s latest quarterly results showed EPS of $1.03 on revenue of $10.85 billion, while analysts currently expect full-year EPS of 3.46 and maintain an overall Hold consensus with a $65.56 target price.
• The company’s obesity-drug pipeline received a boost as European regulators recommended approval of Wegovy 7.2 mg and the Wegovy pill, though competition is intensifying after Eli Lilly reported stronger late-stage weight-loss results for retatrutide.

Fisher Asset Management LLC trimmed its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 5.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,784,222 shares of the company's stock after selling 538,681 shares during the period. Fisher Asset Management LLC owned about 0.22% of Novo Nordisk A/S worth $497,821,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Guerra Advisors Inc bought a new position in Novo Nordisk A/S during the 3rd quarter valued at about $25,000. WealthCollab LLC grew its stake in Novo Nordisk A/S by 93.5% in the 4th quarter. WealthCollab LLC now owns 538 shares of the company's stock worth $27,000 after acquiring an additional 260 shares in the last quarter. American National Bank & Trust bought a new position in Novo Nordisk A/S in the 4th quarter worth about $28,000. Maseco LLP bought a new position in Novo Nordisk A/S in the 4th quarter worth about $29,000. Finally, Jackson Grant Investment Advisers Inc. bought a new position in Novo Nordisk A/S in the 4th quarter worth about $29,000. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Price Performance

NYSE NVO opened at $44.91 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.56 and a current ratio of 0.79. The firm's 50 day moving average price is $40.29 and its 200-day moving average price is $46.44. Novo Nordisk A/S has a 52-week low of $35.12 and a 52-week high of $81.44. The company has a market cap of $200.52 billion, a PE ratio of 10.54, a P/E/G ratio of 4.01 and a beta of 0.77.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The company reported $1.03 earnings per share (EPS) for the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. The firm had revenue of $10.85 billion for the quarter. Sell-side analysts forecast that Novo Nordisk A/S will post 3.46 EPS for the current fiscal year.

Key Headlines Impacting Novo Nordisk A/S

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

• Positive Sentiment: European regulators recommended approval of Novo Nordisk’s Wegovy 7.2 mg pen, with trial data showing up to 20.7% mean weight loss, strengthening the company’s obesity-drug pipeline and supporting future EU sales. Article Title
• Positive Sentiment: The CHMP also recommended approval for Novo Nordisk’s Wegovy pill, potentially making it the first oral GLP-1 obesity drug in the EU and broadening the company’s treatment options. Article Title
• Positive Sentiment: Reuters reported Novo is using AI to speed drug development and expand its role in India, which could help it bring new products to market faster and regain momentum in obesity. Article Title
• Neutral Sentiment: Industry chatter about Lilly’s obesity-drug breakthrough and reports that both Lilly and Novo drugs may have cancer-prevention benefits highlight strong demand in the class, but also underscore intensifying competition and a larger long-term market. Article Title
• Negative Sentiment: Eli Lilly’s retatrutide posted about 28% weight loss in late-stage testing, setting a new benchmark that increases pressure on Novo Nordisk to keep innovating in obesity and GLP-1 therapies. Article Title

Analysts Set New Price Targets

NVO has been the topic of a number of research analyst reports. BMO Capital Markets restated a "market perform" rating on shares of Novo Nordisk A/S in a research note on Thursday, February 5th. The Goldman Sachs Group restated a "neutral" rating and issued a $41.00 target price (down from $63.00) on shares of Novo Nordisk A/S in a research note on Monday, March 2nd. Wolfe Research initiated coverage on shares of Novo Nordisk A/S in a research note on Thursday, March 26th. They issued a "peer perform" rating on the stock. Jefferies Financial Group upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "hold" rating in a research note on Thursday, February 12th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Monday, February 23rd. Four research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $65.56.

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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