Novo Nordisk A/S $NVO Stock Sold by Eastern Bank

Key Points

• Eastern Bank reduced its Novo Nordisk stake by 32.8% in the third quarter, selling 40,164 shares and retaining 82,419 shares valued at approximately $3.1 million.
• Novo Nordisk shares opened at $37.55, near the lower end of their 52-week range of $35.12 to $64.16. The company reported quarterly revenue of $11.98 billion and earnings of $0.94 per share.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and 17 Hold recommendations versus six Buys and four Sells, amid intensifying obesity-drug competition and concerns about future market-share growth.

Eastern Bank decreased its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 32.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 82,419 shares of the company's stock after selling 40,164 shares during the period. Eastern Bank's holdings in Novo Nordisk A/S were worth $3,125,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Franklin Resources Inc. boosted its holdings in Novo Nordisk A/S by 5.1% in the 4th quarter. Franklin Resources Inc. now owns 14,702,508 shares of the company's stock worth $748,064,000 after buying an additional 717,719 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Novo Nordisk A/S during the 1st quarter valued at $287,660,000. State Street Corp lifted its position in shares of Novo Nordisk A/S by 0.6% during the second quarter. State Street Corp now owns 5,869,834 shares of the company's stock worth $284,565,000 after acquiring an additional 32,641 shares in the last quarter. Royal Bank of Canada grew its position in shares of Novo Nordisk A/S by 3.2% in the first quarter. Royal Bank of Canada now owns 4,527,779 shares of the company's stock valued at $166,396,000 after purchasing an additional 141,376 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Novo Nordisk A/S by 1.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,031,114 shares of the company's stock valued at $193,250,000 after purchasing an additional 71,684 shares during the period. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Trading Up 0.6%

NVO opened at $37.55 on Tuesday. Novo Nordisk A/S has a one year low of $35.12 and a one year high of $64.16. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.87 and a quick ratio of 0.66. The business has a 50 day simple moving average of $44.39 and a two-hundred day simple moving average of $43.84. The firm has a market capitalization of $167.65 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 1.23 and a beta of 0.76.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.94 EPS for the quarter. Novo Nordisk A/S had a return on equity of 58.61% and a net margin of 35.36%.The company had revenue of $11.98 billion during the quarter. Analysts predict that Novo Nordisk A/S will post 3.53 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, August 25th. Shareholders of record on Monday, August 17th were issued a $0.5786 dividend. This represents a yield of 258.0%. This is a drop from Novo Nordisk A/S's previous dividend of $1.2751. The ex-dividend date was Monday, August 17th. Novo Nordisk A/S's dividend payout ratio (DPR) is 20.05%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wall Street Zen lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Citigroup reaffirmed a "neutral" rating on shares of Novo Nordisk A/S in a research note on Monday, July 20th. HSBC reiterated a "hold" rating on shares of Novo Nordisk A/S in a research report on Thursday, September 10th. Zacks Research upgraded shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Finally, DZ Bank reaffirmed a "neutral" rating on shares of Novo Nordisk A/S in a report on Thursday, August 6th. Six analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $102.85.

More Novo Nordisk A/S News

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

• Positive Sentiment: Novo Nordisk is continuing a share-repurchase program that forms part of a planned DKK 15 billion, 12-month buyback. The program may provide some support for earnings per share and signal management confidence in the valuation. Novo Nordisk A/S – Share repurchase programme
• Positive Sentiment: The company has licensed a Chinese oral-obesity candidate, an effort to broaden its pipeline and reduce reliance on injectable GLP-1 products such as Ozempic and Wegovy. Oral treatments could expand patient access if development and regulatory milestones are achieved. Novo Nordisk Licenses Chinese Oral Obesity Candidate
• Neutral Sentiment: Long-term industry forecasts point to strong growth in type 2 diabetes treatment, supported by rising disease prevalence and adoption of next-generation therapies. However, the broader opportunity does not guarantee that Novo Nordisk will retain market share. Type 2 Diabetes Market Growth Forecast
• Negative Sentiment: The FDA extended its review of denecimig, Novo Nordisk’s hemophilia A treatment, because of remediation work at a manufacturing facility. No clinical efficacy or safety deficiencies were identified, but the delay postpones a potential product launch and highlights manufacturing risk. Novo's Denecimig BLA Review Delayed
• Negative Sentiment: Competition in obesity treatments is intensifying, and reports say Novo is losing market share as investors question whether its pipeline beyond GLP-1 therapies is broad enough to sustain growth. This is weighing on sentiment after the strong expansion driven by Ozempic and Wegovy. Novo Looks Beyond GLP-1s as Competition Intensifies

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Denmark-based global pharmaceutical company focused on treatments for diabetes, obesity and other serious chronic diseases. Its portfolio includes injectable and oral medicines for diabetes, including insulin products and the GLP-1 therapies Ozempic and Rybelsus, as well as the obesity treatment Wegovy.

The company also develops and markets products for rare blood disorders, including hemophilia, along with growth hormone therapies and hormone replacement treatments.

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