Glenview Trust Co Cuts Stock Holdings in Novo Nordisk A/S $NVO

Key Points

• Glenview Trust Co cut its Novo Nordisk stake by 77% in the fourth quarter, selling 23,367 shares and leaving it with 6,961 shares worth about $354,000.
• Several other institutional investors also adjusted positions in Novo Nordisk, while the stock remains 11.54% owned by institutional investors overall.
• Novo Nordisk is drawing attention from both sides of the market: positive catalysts include EU backing for oral Wegovy and a share buyback program, while negative pressures include Brazil’s first generic Ozempic copy and ongoing competition/pricing concerns.

Glenview Trust Co trimmed its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 77.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,961 shares of the company's stock after selling 23,367 shares during the period. Glenview Trust Co's holdings in Novo Nordisk A/S were worth $354,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Guerra Advisors Inc bought a new position in shares of Novo Nordisk A/S during the third quarter valued at about $25,000. Strengthening Families & Communities LLC bought a new position in Novo Nordisk A/S in the third quarter worth about $30,000. WealthCollab LLC grew its holdings in Novo Nordisk A/S by 93.5% in the fourth quarter. WealthCollab LLC now owns 538 shares of the company's stock worth $27,000 after purchasing an additional 260 shares during the period. American National Bank & Trust purchased a new stake in Novo Nordisk A/S in the fourth quarter worth about $28,000. Finally, Jackson Grant Investment Advisers Inc. purchased a new stake in Novo Nordisk A/S in the fourth quarter worth about $29,000. 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’s Wegovy pill has received CHMP backing in the EU, moving it closer to approval and potentially making it the first oral GLP-1 treatment for obesity in Europe. That could expand the addressable market and support future sales growth. CHMP Backs EU Approval of Novo Nordisk's Wegovy Pill for Obesity
• Positive Sentiment: The company also announced a share repurchase program, which can support the stock by signaling management confidence and reducing the share count over time. Novo Nordisk A/S - share repurchase programme
• Positive Sentiment: New POSEIDON study findings highlighted a high level of cardiovascular inflammation in patients with heart disease, reinforcing an unmet need that Novo Nordisk’s cardiometabolic portfolio could help address. Novo Nordisk POSEIDON Data Highlights Residual Inflammatory Risk And New Opportunity
• Positive Sentiment: Another report said Novo Nordisk nears EU approval for oral Wegovy, adding to optimism around the company’s GLP-1 pipeline and future revenue potential. Novo Nordisk Nears EU Nod For Oral Wegovy And Investor Opportunity
• Neutral Sentiment: Several commentary pieces kept Novo Nordisk in the spotlight, including notes that investors are heavily searching the stock and that large-cap pharma names may benefit from an industry recovery. Investors Heavily Search Novo Nordisk A/S (NVO): Here is What You Need to Know
• Negative Sentiment: Brazil approved the country’s first generic copy of Ozempic, which could increase pricing pressure and intensify competition in a fast-growing diabetes and weight-loss market. Brazil Clears First Generic Copy of Novo Nordisk’s Ozempic Shot
• Negative Sentiment: A Zacks note also warned that EU label expansions may help semaglutide volumes, but pricing pressure and competition from Eli Lilly could limit any recovery in NVO shares. Can EU Label Expansions of NVO's GLP-1 Drugs Spur Sales Growth?

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NVO. Zacks Research upgraded shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a report on Tuesday, March 10th. Deutsche Bank Aktiengesellschaft cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Monday, February 23rd. Weiss Ratings cut shares of Novo Nordisk A/S from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. restated a "neutral" rating on shares of Novo Nordisk A/S in a report on Tuesday, February 24th. Finally, Wolfe Research began coverage on shares of Novo Nordisk A/S in a report on Thursday, March 26th. They issued a "peer perform" rating on the stock. Four 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's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $65.56.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $44.26 on Wednesday. The company has a market capitalization of $197.62 billion, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 4.01 and a beta of 0.77. The company has a quick ratio of 0.56, a current ratio of 0.79 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average of $40.55 and a 200 day moving average of $46.39. Novo Nordisk A/S has a twelve month low of $35.12 and a twelve month high of $81.44.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $1.03 earnings per share for the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. The company had revenue of $10.85 billion during the quarter. As a group, equities research analysts anticipate that Novo Nordisk A/S will post 3.46 earnings per share for the current fiscal year.

Novo Nordisk A/S Company 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.

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