Portside Wealth Group LLC Sells 2,814 Shares of Novo Nordisk A/S $NVO

Portside Wealth Group LLC cut its position in shares of Novo Nordisk A/S (NYSE:NVO) by 6.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,738 shares of the company’s stock after selling 2,814 shares during the quarter. Portside Wealth Group LLC’s holdings in Novo Nordisk A/S were worth $2,881,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Lockheed Martin Investment Management Co. increased its stake in shares of Novo Nordisk A/S by 179.4% in the second quarter. Lockheed Martin Investment Management Co. now owns 43,450 shares of the company’s stock valued at $2,999,000 after buying an additional 27,900 shares in the last quarter. Unified Investment Management bought a new stake in Novo Nordisk A/S during the 2nd quarter worth about $692,000. Guild Investment Management Inc. grew its holdings in Novo Nordisk A/S by 20.7% during the 2nd quarter. Guild Investment Management Inc. now owns 36,995 shares of the company’s stock worth $2,553,000 after acquiring an additional 6,345 shares during the last quarter. Acadian Asset Management LLC increased its position in Novo Nordisk A/S by 15,919.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock valued at $72,523,000 after acquiring an additional 1,038,137 shares in the last quarter. Finally, Norden Group LLC raised its stake in shares of Novo Nordisk A/S by 216.3% in the second quarter. Norden Group LLC now owns 96,332 shares of the company’s stock worth $6,649,000 after acquiring an additional 65,877 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NVO opened at $48.52 on Tuesday. The company has a fifty day moving average price of $54.44 and a two-hundred day moving average price of $60.85. The firm has a market capitalization of $216.63 billion, a PE ratio of 13.33, a P/E/G ratio of 2.33 and a beta of 0.65. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $112.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.25. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The company had revenue of $11.74 billion for the quarter, compared to the consensus estimate of $11.98 billion. Novo Nordisk A/S has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. TD Cowen decreased their price target on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, August 19th. BNP Paribas raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 13th. Berenberg Bank upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. Wall Street Zen cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Novo Nordisk A/S in a research note on Tuesday, November 11th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Hold” and a consensus target price of $59.20.

About Novo Nordisk A/S

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.