Havemeyer Place LP Invests $2.56 Million in Novo Nordisk A/S $NVO

Key Points

• Havemeyer Place LP opened a new position in Novo Nordisk A/S during the fourth quarter, buying 50,223 shares valued at about $2.56 million.
• Other institutional investors have also been active in NVO, with large purchases from firms like Franklin Resources and Capital International Investors; overall, about 11.54% of the stock is owned by hedge funds and institutions.
• Analyst sentiment remains cautious: several firms have recently downgraded the stock, and MarketBeat shows a consensus rating of “Hold” with a target price of $65.56, while the shares were trading around $42.93.

Havemeyer Place LP purchased a new position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 50,223 shares of the company's stock, valued at approximately $2,555,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NVO. Franklin Resources Inc. grew its holdings in shares of Novo Nordisk A/S by 4,190.8% during the third quarter. Franklin Resources Inc. now owns 13,984,789 shares of the company's stock worth $776,016,000 after buying an additional 13,658,867 shares in the last quarter. Capital International Investors grew its holdings in shares of Novo Nordisk A/S by 52.4% during the third quarter. Capital International Investors now owns 17,713,424 shares of the company's stock worth $982,969,000 after buying an additional 6,092,192 shares in the last quarter. Boston Partners purchased a new stake in Novo Nordisk A/S in the third quarter valued at approximately $310,199,000. Clear Street Group Inc. purchased a new stake in Novo Nordisk A/S in the third quarter valued at approximately $56,378,000. Finally, Armistice Capital LLC purchased a new stake in Novo Nordisk A/S in the third quarter valued at approximately $40,841,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NVO has been the subject of a number of recent analyst reports. Morgan Stanley upgraded shares of Novo Nordisk A/S from an "underweight" rating to an "equal weight" rating and set a $40.00 target price for the company in a report on Tuesday, March 3rd. Wolfe Research initiated coverage on shares of Novo Nordisk A/S in a report on Thursday, March 26th. They issued a "peer perform" rating for the company. TD Cowen downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $42.00 target price for the company. in a report on Tuesday, March 10th. 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. Finally, Kepler Capital Markets downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Tuesday, February 24th. 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 MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $65.56.

Novo Nordisk A/S Trading Down 1.9%

Shares of NVO stock opened at $42.93 on Friday. The stock has a market cap of $191.66 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 3.83 and a beta of 0.78. 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 has a fifty-two week low of $35.12 and a fifty-two week high of $81.44. The firm's 50 day moving average price is $41.62 and its two-hundred day moving average price is $46.18.

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. The firm had revenue of $10.85 billion for the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. On average, analysts anticipate that Novo Nordisk A/S will post 3.46 EPS for the current year.

More Novo Nordisk A/S News

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

• Positive Sentiment: TD Cowen raised its 2030 GLP-1 sales forecast to $150 billion and expects Novo Nordisk to remain one of the two dominant leaders alongside Eli Lilly, implying continued long-term demand for obesity and diabetes therapies. GLP-1 Sales Forecast Jumps To $150 Billion By 2030
• Positive Sentiment: Novo Nordisk is expanding internationally as only 1%–2% of global patients currently use obesity drugs, suggesting a large untapped market if pricing and access improve over time. Novo And Lilly Push Beyond US As Only 1%-2% Use Obesity Drugs Globally
• Positive Sentiment: Novo Nordisk announced a clinical supply agreement with Veru for a Phase 2b obesity trial testing Wegovy in combination with enobosarm, giving the company another potential path to extend its obesity franchise. Novo Nordisk Tests Wegovy Combinations In Older Adults With Veru Trial
• Neutral Sentiment: Investor attention is elevated ahead of Novo Nordisk’s ADA conference data releases and June 7 R&D event, which could create volatility depending on pipeline updates and clinical readouts. Novo Nordisk gains as investors position for ADA data and June 7 R&D event
• Neutral Sentiment: Novo Nordisk is also getting broad market attention as a “trending stock,” but that reflects heightened investor interest rather than a clearly stock-moving fundamental update. Novo Nordisk A/S (NVO) Is a Trending Stock: Facts to Know Before Betting on It

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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