Novo Nordisk A/S $NVO Position Trimmed by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel trimmed its Novo Nordisk stake by 27.3% in the first quarter, selling 67,020 shares and leaving it with 178,029 shares valued at about $6.54 million.
• Institutional ownership remains active, with several other investors recently adding to or initiating positions in the company; overall institutional investors hold 11.54% of Novo Nordisk’s stock.
• Wall Street remains cautious overall, with a consensus rating of “Hold” and an average price target of $65.56, despite some analysts upgrading the stock and continued optimism around Wegovy and other GLP-1 growth drivers.

Carnegie Investment Counsel decreased its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 27.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 178,029 shares of the company's stock after selling 67,020 shares during the quarter. Carnegie Investment Counsel's holdings in Novo Nordisk A/S were worth $6,543,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. CIBC Bancorp USA Inc. acquired a new stake in Novo Nordisk A/S during the 3rd quarter valued at $19,519,000. Romano Brothers AND Company boosted its position in shares of Novo Nordisk A/S by 704.0% in the fourth quarter. Romano Brothers AND Company now owns 34,236 shares of the company's stock worth $1,742,000 after buying an additional 29,978 shares during the period. Capital Investment Counsel LLC acquired a new stake in shares of Novo Nordisk A/S in the fourth quarter worth $3,727,000. Marathon Capital Management grew its holdings in shares of Novo Nordisk A/S by 43.9% during the fourth quarter. Marathon Capital Management now owns 82,705 shares of the company's stock valued at $4,208,000 after buying an additional 25,230 shares in the last quarter. Finally, CWA Asset Management Group LLC raised its position in Novo Nordisk A/S by 131.9% during the fourth quarter. CWA Asset Management Group LLC now owns 76,993 shares of the company's stock valued at $3,917,000 after buying an additional 43,793 shares during the period. Institutional investors own 11.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NVO. Nordea Equity Research raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Friday, June 19th. Wall Street Zen cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Sanford C. Bernstein assumed coverage on Novo Nordisk A/S in a report on Wednesday, March 18th. They issued an "outperform" rating and a $175.00 target price on the stock. Weiss Ratings lowered shares of Novo Nordisk A/S from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, April 22nd. Finally, Citigroup restated a "neutral" rating on shares of Novo Nordisk A/S in a report on Tuesday, May 12th. Five research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $65.56.

Novo Nordisk A/S News Roundup

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

• Positive Sentiment: Novo Nordisk’s Wegovy access continues to expand, and a recent U.K. approval has added to optimism around demand for its GLP-1 franchise, supporting the stock’s recent rebound. Article Title
• Positive Sentiment: The company launched Awiqli, the world’s first once-weekly basal insulin, in India, a move that could strengthen Novo Nordisk’s diabetes footprint in a large and fast-growing market. Article Title
• Positive Sentiment: Analysts and commentators continue to argue that the stock still has a long-term bull case, with some saying the decline from highs has made the valuation more attractive relative to the company’s growth prospects. Article Title
• Neutral Sentiment: Several articles note that investors are simply watching Novo Nordisk more closely, suggesting heightened interest rather than a single new fundamental catalyst. Article Title
• Neutral Sentiment: Coverage around a Wegovy label update and broader GLP-1 enthusiasm is keeping the name in focus, but the market appears to be balancing this against the risk that competition and earnings pressure could limit upside. Article Title
• Negative Sentiment: Recent commentary also highlights rising competition in the obesity and diabetes drug markets, which could pressure Novo Nordisk’s growth and margins over time. Article Title
• Negative Sentiment: One recent market note said NVO has been slipping relative to the broader market, reflecting some near-term profit taking after the stock’s strong run. Article Title

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $49.49 on Monday. The company has a current ratio of 0.79, a quick ratio of 0.56 and a debt-to-equity ratio of 0.59. Novo Nordisk A/S has a 1 year low of $35.12 and a 1 year high of $71.79. The business has a fifty day simple moving average of $45.57 and a 200 day simple moving average of $45.86. The firm has a market cap of $220.96 billion, a price-to-earnings ratio of 11.62, a P/E/G ratio of 4.51 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 return on equity of 63.31% and a net margin of 37.23%.The firm had revenue of $10.85 billion during the quarter. As a group, sell-side analysts predict that Novo Nordisk A/S will post 3.38 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.