XTX Topco Ltd Acquires New Position in Novo Nordisk A/S (NYSE:NVO)

Key Points

• XTX Topco Ltd has acquired a new stake of 10,162 shares in Novo Nordisk A/S, valued at approximately $706,000, according to a recent SEC filing.
• Various institutional investors are adjusting their holdings in Novo Nordisk, with hedge funds collectively owning 11.54% of the company’s stock.
• A number of analysts have downgraded Novo Nordisk's rating, with Wall Street Zen changing its outlook from "buy" to "hold" and setting a new price target of $64.00.

XTX Topco Ltd purchased a new stake in Novo Nordisk A/S (NYSE:NVO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,162 shares of the company's stock, valued at approximately $706,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVO. BIP Wealth LLC grew its position in Novo Nordisk A/S by 3.9% during the 4th quarter. BIP Wealth LLC now owns 3,642 shares of the company's stock worth $313,000 after purchasing an additional 138 shares during the last quarter. Xponance Inc. lifted its holdings in Novo Nordisk A/S by 5.0% during the first quarter. Xponance Inc. now owns 3,314 shares of the company's stock valued at $230,000 after purchasing an additional 158 shares in the last quarter. 180 Wealth Advisors LLC lifted its stake in shares of Novo Nordisk A/S by 3.6% in the first quarter. 180 Wealth Advisors LLC now owns 5,014 shares of the company's stock worth $348,000 after buying an additional 173 shares in the last quarter. LRI Investments LLC increased its position in Novo Nordisk A/S by 1.4% during the fourth quarter. LRI Investments LLC now owns 13,060 shares of the company's stock worth $1,123,000 after purchasing an additional 176 shares during the last quarter. Finally, Beacon Financial Group increased its position in Novo Nordisk A/S by 6.5% during the first quarter. Beacon Financial Group now owns 2,884 shares of the company's stock worth $200,000 after purchasing an additional 177 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NVO shares. Wall Street Zen cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday. BNP Paribas assumed coverage on shares of Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an "underperform" rating for the company. BMO Capital Markets reissued a "market perform" rating and set a $64.00 price objective (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. HSBC lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective on the stock. in a report on Thursday, July 31st. Finally, Dbs Bank cut shares of Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $93.67.

Novo Nordisk A/S Stock Up 1.4%

Shares of Novo Nordisk A/S stock opened at $48.86 on Tuesday. The company has a market cap of $218.15 billion, a P/E ratio of 14.46, a PEG ratio of 1.46 and a beta of 0.63. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.56 and a current ratio of 0.74. Novo Nordisk A/S has a one year low of $46.90 and a one year high of $139.74. The firm has a fifty day moving average of $68.89 and a two-hundred day moving average of $72.37.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, hitting analysts' consensus estimates of $0.92. Novo Nordisk A/S had a net margin of 34.52% and a return on equity of 80.94%. The business had revenue of $11.87 billion for the quarter. On average, analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Profile

Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease.

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