Novo Nordisk A/S $NVO Shares Purchased by Bank Hapoalim BM

Key Points

• Bank Hapoalim BM increased its stake in Novo Nordisk by 76.4% in the fourth quarter, buying 24,940 additional shares and bringing its total holding to 57,570 shares worth about $2.93 million.
• Institutional interest remains active, with several other hedge funds also adding to or initiating positions in the company during the quarter. Overall, institutional investors own 11.54% of Novo Nordisk’s stock.
• Novo Nordisk shares were down 0.7% in the latest session, and the stock has drawn mixed analyst sentiment, with an average rating of “Hold” and an average price target of $65.56.

Bank Hapoalim BM raised its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 76.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,570 shares of the company's stock after acquiring an additional 24,940 shares during the quarter. Bank Hapoalim BM's holdings in Novo Nordisk A/S were worth $2,929,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Opal Capital LLC acquired a new position in shares of Novo Nordisk A/S during the fourth quarter worth $10,199,000. Beacon Financial Advisory LLC grew its holdings in Novo Nordisk A/S by 87.5% during the 4th quarter. Beacon Financial Advisory LLC now owns 8,869 shares of the company's stock valued at $451,000 after purchasing an additional 4,139 shares in the last quarter. Brooklands Fund Management Ltd purchased a new stake in Novo Nordisk A/S during the 4th quarter worth $1,805,000. TritonPoint Partners LLC acquired a new position in Novo Nordisk A/S in the 4th quarter worth $466,000. Finally, WealthTrust Axiom LLC increased its position in shares of Novo Nordisk A/S by 28.0% during the fourth quarter. WealthTrust Axiom LLC now owns 46,063 shares of the company's stock worth $2,344,000 after acquiring an additional 10,073 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Trading Down 0.7%

Shares of NYSE NVO opened at $43.59 on Wednesday. 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 stock's 50 day moving average price is $42.55 and its two-hundred day moving average price is $45.94. Novo Nordisk A/S has a 52-week low of $35.12 and a 52-week high of $75.78. The stock has a market capitalization of $194.65 billion, a P/E ratio of 10.23, a PEG ratio of 3.92 and a beta of 0.78.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced 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 for the quarter. On average, analysts anticipate that Novo Nordisk A/S will post 3.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NVO has been the topic of several analyst reports. Nordea Equity Research downgraded Novo Nordisk A/S to a "hold" rating in a report on Tuesday, February 24th. Morgan Stanley upgraded 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 research note on Tuesday, March 3rd. Sanford C. Bernstein initiated coverage on shares of Novo Nordisk A/S in a research report on Wednesday, March 18th. They set an "outperform" rating and a $175.00 price target for the company. TD Cowen lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $42.00 price target for the company. in a research note on Tuesday, March 10th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Novo Nordisk A/S in a report on Tuesday, February 24th. Four equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $65.56.

Trending Headlines about Novo Nordisk A/S

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

• Positive Sentiment: Novo Nordisk said it plans to seek Chinese regulatory approval for its oral Wegovy pill, which could expand its obesity franchise into one of the world’s largest potential markets and strengthen the company’s long-term growth outlook. Reuters: Novo Nordisk to seek regulatory approval for Wegovy pill in China soon, says CEO
• Positive Sentiment: Reports that the company is moving closer to an oral Wegovy filing in China reinforce the view that Novo Nordisk is broadening its weight-loss pipeline beyond injectables, which could help it compete more effectively with Eli Lilly. Article: Novo Nordisk CPSE: NOVO B Prepares China Filing For Oral Wegovy Pill
• Neutral Sentiment: Several market-watch and Zacks items indicate that Novo Nordisk remains a heavily followed stock, but they do not add major new fundamental information beyond confirming investor interest and ongoing debate about the outlook. Article: Novo Nordisk A/S (NVO) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: A hacking group claimed it stole more than a terabyte of data from Novo Nordisk and attempted to extort $25 million, which raises cybersecurity and reputational concerns that could weigh on sentiment if the breach is confirmed or grows worse. Reuters: Hacking group claims major hack of Novo Nordisk and attempted $25 million extortion

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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