TD Asset Management Inc Invests $20.27 Million in Novo Nordisk A/S $NVO

Key Points

• TD Asset Management Inc opened a new position in Novo Nordisk during the fourth quarter, buying 398,408 shares worth about $20.27 million.
• Institutional interest in Novo Nordisk remains broad, with several large hedge funds and asset managers increasing holdings; institutions and hedge funds now own 11.54% of the stock.
• Analyst sentiment is mixed but leans cautious: Novo Nordisk currently has a “Hold” consensus rating, with an average price target of $65.56, while the shares recently traded around $42.93.

TD Asset Management Inc acquired a new position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 398,408 shares of the company's stock, valued at approximately $20,271,000.

Several other hedge funds have also made changes to their positions in the business. Capital International Investors boosted its holdings in Novo Nordisk A/S by 52.4% in the third quarter. Capital International Investors now owns 17,713,424 shares of the company's stock valued at $982,969,000 after acquiring an additional 6,092,192 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Novo Nordisk A/S by 4,190.8% in the third quarter. Franklin Resources Inc. now owns 13,984,789 shares of the company's stock valued at $776,016,000 after acquiring an additional 13,658,867 shares during the last quarter. State Street Corp boosted its holdings in Novo Nordisk A/S by 1.0% in the third quarter. State Street Corp now owns 6,106,836 shares of the company's stock valued at $340,125,000 after acquiring an additional 59,153 shares during the last quarter. Boston Partners acquired a new position in Novo Nordisk A/S in the third quarter valued at $310,199,000. Finally, Northern Trust Corp boosted its holdings in Novo Nordisk A/S by 4.3% in the third quarter. Northern Trust Corp now owns 4,611,126 shares of the company's stock valued at $255,871,000 after acquiring an additional 189,640 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on NVO shares. Sanford C. Bernstein started 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 cut Novo Nordisk A/S from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, April 22nd. Jefferies Financial Group upgraded Novo Nordisk A/S from an "underperform" rating to a "hold" rating in a report on Thursday, February 12th. Kepler Capital Markets cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Tuesday, February 24th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Novo Nordisk A/S in a report on Tuesday, February 24th. 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 company's stock. According to MarketBeat, Novo Nordisk A/S presently has a consensus rating of "Hold" and an average price target of $65.56.

Novo Nordisk A/S Trading Down 0.1%

NYSE:NVO opened at $42.93 on Monday. The business's 50-day moving average is $41.62 and its two-hundred day moving average is $46.17. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.79 and a quick ratio of 0.56. Novo Nordisk A/S has a 12 month low of $35.12 and a 12 month high of $81.44. The firm has a market capitalization of $191.66 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 3.83 and a beta of 0.78.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its earnings results 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 business had revenue of $10.85 billion for the quarter. Research analysts predict that Novo Nordisk A/S will post 3.46 earnings per share for the current fiscal year.

Key Headlines Impacting Novo Nordisk A/S

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

• Positive Sentiment: TD Cowen raised its 2030 GLP-1 sales forecast to $150 billion and expects Novo Nordisk to remain one of the two dominant leaders alongside Eli Lilly, implying continued long-term demand for obesity and diabetes therapies. GLP-1 Sales Forecast Jumps To $150 Billion By 2030
• Positive Sentiment: Novo Nordisk is expanding internationally as only 1%–2% of global patients currently use obesity drugs, suggesting a large untapped market if pricing and access improve over time. Novo And Lilly Push Beyond US As Only 1%-2% Use Obesity Drugs Globally
• Positive Sentiment: Novo Nordisk announced a clinical supply agreement with Veru for a Phase 2b obesity trial testing Wegovy in combination with enobosarm, giving the company another potential path to extend its obesity franchise. Novo Nordisk Tests Wegovy Combinations In Older Adults With Veru Trial
• Neutral Sentiment: Investor attention is elevated ahead of Novo Nordisk’s ADA conference data releases and June 7 R&D event, which could create volatility depending on pipeline updates and clinical readouts. Novo Nordisk gains as investors position for ADA data and June 7 R&D event
• Neutral Sentiment: Novo Nordisk is also getting broad market attention as a “trending stock,” but that reflects heightened investor interest rather than a clearly stock-moving fundamental update. Novo Nordisk A/S (NVO) Is a Trending Stock: Facts to Know Before Betting on It

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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