HighTower Advisors LLC Acquires 168,196 Shares of Novo Nordisk A/S $NVO

Key Points

• HighTower Advisors increased its Novo Nordisk stake by 71.6% in the second quarter, adding 168,196 shares to hold 403,262 shares worth approximately $19.3 million. Institutional investors own 11.54% of the company.
• Novo’s phase 3 STEP Young trial showed that semaglutide helped 40.4% of children aged 6 to under 12 no longer meet the definition of obesity after 68 weeks, potentially expanding Wegovy’s market. However, the company halted two additional phase 3 trials of cardiovascular drug ziltivekimab, highlighting pipeline and diversification concerns.
• NVO shares opened at $45.15, while analysts maintain a consensus “Hold” rating with a $64.94 price target. The company reported $0.94 in quarterly EPS and $11.98 billion in revenue.

HighTower Advisors LLC boosted its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 71.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 403,262 shares of the company's stock after buying an additional 168,196 shares during the quarter. HighTower Advisors LLC's holdings in Novo Nordisk A/S were worth $19,332,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in NVO. Revolve Wealth Partners LLC lifted its stake in shares of Novo Nordisk A/S by 8.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock worth $214,000 after buying an additional 200 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in Novo Nordisk A/S by 4.7% during the second quarter. CoreCap Advisors LLC now owns 5,341 shares of the company's stock valued at $256,000 after acquiring an additional 242 shares during the period. Carson Advisory Inc. increased its stake in shares of Novo Nordisk A/S by 2.2% in the first quarter. Carson Advisory Inc. now owns 12,316 shares of the company's stock worth $453,000 after purchasing an additional 268 shares during the period. Bradley Foster & Sargent Inc. CT lifted its position in shares of Novo Nordisk A/S by 0.6% during the 1st quarter. Bradley Foster & Sargent Inc. CT now owns 46,960 shares of the company's stock worth $1,726,000 after purchasing an additional 272 shares during the last quarter. Finally, Arlington Partners LLC boosted its stake in Novo Nordisk A/S by 4.4% during the 2nd quarter. Arlington Partners LLC now owns 6,777 shares of the company's stock valued at $325,000 after purchasing an additional 283 shares during the period. Institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S News Roundup

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

• Positive Sentiment: Novo Nordisk’s phase 3 STEP Young trial met its primary endpoint. After 68 weeks, 40.4% of children aged 6 to under 12 treated with semaglutide were no longer classified as having obesity, compared with 0% in the placebo group. The results support potential future use of Wegovy in younger children, subject to regulatory review. Novo Nordisk says semaglutide cut obesity rates in young children in trial
• Positive Sentiment: The pediatric results could open another significant growth market for Novo Nordisk’s GLP-1 franchise, potentially broadening Wegovy’s reach beyond adults and adolescents. The company reported no new safety concerns related to growth or puberty in the trial coverage. Novo Nordisk’s Wegovy helps free 40% of kids from obesity in phase 3 trial
• Positive Sentiment: Novo is continuing a share-repurchase program of up to DKK 15 billion over 12 months, which may provide modest support for earnings per share and signal confidence in the company’s valuation. Novo Nordisk share repurchase programme
• Neutral Sentiment: Chief Executive Mike Doustdar expressed caution about the broader peptide investment craze. His comments suggest Novo is focused on commercially viable medicines rather than pursuing peptide technologies indiscriminately, but they may reinforce concerns about the company’s strategy as competition in obesity treatments intensifies. Why the CEO of Wegovy maker Novo Nordisk isn’t yet sold on the peptide craze
• Negative Sentiment: Novo halted two additional phase 3 trials of experimental cardiovascular drug ziltivekimab. The cancellations weaken the company’s efforts to diversify beyond its core diabetes and obesity products and reduce confidence in longer-term pipeline growth. Novo scraps two more heart drug trials
• Negative Sentiment: The contrasting trial outcomes highlighted Novo Nordisk’s concentration risk: pediatric Wegovy data were strong, but the cardiovascular setbacks leave the company more dependent on its existing obesity franchise. One analyst consequently downgraded the stock. Novo stock: STEP Young wins, but heart trials just got halted

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $45.15 on Wednesday. The business has a 50 day simple moving average of $47.84 and a 200 day simple moving average of $43.71. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.79 and a quick ratio of 0.56. The company has a market capitalization of $201.60 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 1.56 and a beta of 0.74. Novo Nordisk A/S has a one year low of $35.12 and a one year high of $64.16.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.94 earnings per share for the quarter. The firm had revenue of $11.98 billion for the quarter. Novo Nordisk A/S had a return on equity of 61.20% and a net margin of 35.36%. On average, sell-side analysts forecast that Novo Nordisk A/S will post 3.45 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a dividend, which was paid on Tuesday, August 25th. Shareholders of record on Monday, August 17th were given a $0.5786 dividend. The ex-dividend date was Monday, August 17th. This represents a yield of 258.0%. Novo Nordisk A/S's payout ratio is 19.80%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Citigroup restated a "neutral" rating on shares of Novo Nordisk A/S in a research note on Monday, July 20th. Wall Street Zen lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, June 20th. HSBC reissued a "hold" rating on shares of Novo Nordisk A/S in a research report on Monday, July 6th. Nordea Equity Research raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Friday, June 19th. Finally, BMO Capital Markets restated a "market perform" rating and issued a $47.00 target price on shares of Novo Nordisk A/S in a research note on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target 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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