Novo Nordisk A/S $NVO Stock Position Decreased by Peapack Gladstone Financial Corp

Key Points

• Peapack Gladstone Financial Corp reduced its Novo Nordisk stake by 25.5% in the fourth quarter, selling 25,083 shares and leaving it with 73,091 shares worth about $3.72 million.
• Novo Nordisk shares were down 2.6%, with the stock opening at $42.93; the company now has a market cap of about $191.7 billion and trades well below its 52-week high of $81.44.
• Investor sentiment remains mixed: the company is seeing positive catalysts like a Wegovy pill launch in the UAE and a Singapore weight-care partnership, but competitive pressure from Eli Lilly and slowing Wegovy pill growth are weighing on the outlook.

Peapack Gladstone Financial Corp lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 25.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 73,091 shares of the company's stock after selling 25,083 shares during the period. Peapack Gladstone Financial Corp's holdings in Novo Nordisk A/S were worth $3,719,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Quotient Wealth Partners LLC grew its position in shares of Novo Nordisk A/S by 2.0% during the 4th quarter. Quotient Wealth Partners LLC now owns 9,091 shares of the company's stock valued at $463,000 after buying an additional 177 shares during the last quarter. Certuity LLC grew its position in Novo Nordisk A/S by 3.6% in the 4th quarter. Certuity LLC now owns 5,052 shares of the company's stock worth $257,000 after purchasing an additional 177 shares during the last quarter. Oakworth Capital Inc. grew its position in Novo Nordisk A/S by 41.6% in the 4th quarter. Oakworth Capital Inc. now owns 619 shares of the company's stock worth $31,000 after purchasing an additional 182 shares during the last quarter. True North Advisors LLC grew its position in Novo Nordisk A/S by 3.9% in the 4th quarter. True North Advisors LLC now owns 5,305 shares of the company's stock worth $270,000 after purchasing an additional 199 shares during the last quarter. Finally, Asio Capital LLC grew its position in Novo Nordisk A/S by 3.9% in the 4th quarter. Asio Capital LLC now owns 5,386 shares of the company's stock worth $274,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 11.54% of the company's stock.

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 its Wegovy pill will launch in the UAE after receiving regulatory approval, another sign that its oral obesity treatment is gaining international traction. Novo Nordisk's Wegovy Pill to Launch in the UAE Following Regulatory Approval
• Positive Sentiment: Novo Nordisk announced a partnership with NOVI Health in Singapore to expand access to structured weight-care support, which could help broaden adoption of its obesity treatments. NOVI Health Partners with Novo Nordisk to Expand Access to Structured Weight Care Support in Singapore
• Positive Sentiment: Novo Nordisk continued its share repurchase program, a move that can support earnings per share and signal management confidence. Novo Nordisk A/S - share repurchase programme
• Neutral Sentiment: Investors are also watching Novo Nordisk ahead of the ADA conference, where any new diabetes or obesity updates could influence sentiment. Is Novo Nordisk A/S (NVO) Expanding Its Lead in Diabetes and Weight Loss Ahead of ADA Conference?
• Neutral Sentiment: Analysts are highlighting broader long-term growth potential in GLP-1 drugs, but this is more of a thematic backdrop than a direct catalyst. 5 Best Growth Stocks for the Next 10 Years (NVO)
• Negative Sentiment: Eli Lilly regained CVS Health’s support for GLP-1 access, which may weaken Novo Nordisk’s competitive position in the U.S. obesity-drug market. Eli Lilly Wins Back CVS Health, Reverting Novo's Advantage (NVO)
• Negative Sentiment: Tracking data suggests Wegovy’s oral version is still leading Lilly’s rival tablet, but weekly prescription growth is slowing as competition heats up in the GLP-1 space. Wegovy pill maintains GLP-1 lead over Lilly rival, but weekly growth slows

Analyst Ratings Changes

Several research analysts have commented on NVO shares. Wall Street Zen upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Nordea Equity Research cut shares of Novo Nordisk A/S to a "hold" rating in a research report on Tuesday, February 24th. 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 research report on Tuesday, March 3rd. Wolfe Research started coverage on shares of Novo Nordisk A/S in a research report on Thursday, March 26th. They issued a "peer perform" rating for the company. Finally, Sanford C. Bernstein started coverage on shares of Novo Nordisk A/S in a research report on Wednesday, March 18th. They issued an "outperform" rating and a $175.00 target price for the company. Four analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of "Hold" and an average target price of $65.56.

Novo Nordisk A/S Trading Down 2.6%

Shares of NYSE:NVO opened at $42.93 on Wednesday. The company has a 50 day moving average of $41.12 and a 200-day moving average of $46.34. The firm has a market cap of $191.70 billion, a P/E ratio of 10.08, a P/E/G ratio of 3.93 and a beta of 0.78. Novo Nordisk A/S has a twelve month low of $35.12 and a twelve month high of $81.44. 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 (NYSE:NVO - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $1.03 earnings per share for the quarter. The company had revenue of $10.85 billion during the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. As a group, 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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