Thornburg Investment Management Inc. Raises Stake in Novo Nordisk A/S $NVO

Thornburg Investment Management Inc. boosted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 14.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 822,677 shares of the company’s stock after acquiring an additional 104,842 shares during the period. Thornburg Investment Management Inc.’s holdings in Novo Nordisk A/S were worth $56,781,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Revolve Wealth Partners LLC raised its holdings in Novo Nordisk A/S by 8.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock worth $214,000 after purchasing an additional 200 shares in the last quarter. AE Wealth Management LLC lifted its stake in Novo Nordisk A/S by 20.8% in the first quarter. AE Wealth Management LLC now owns 5,742 shares of the company’s stock valued at $399,000 after buying an additional 989 shares during the last quarter. HB Wealth Management LLC boosted its holdings in shares of Novo Nordisk A/S by 101.2% in the first quarter. HB Wealth Management LLC now owns 34,452 shares of the company’s stock valued at $2,392,000 after acquiring an additional 17,330 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Novo Nordisk A/S during the first quarter worth approximately $41,000. Finally, LPL Financial LLC grew its position in shares of Novo Nordisk A/S by 1.7% during the first quarter. LPL Financial LLC now owns 1,379,207 shares of the company’s stock worth $95,643,000 after acquiring an additional 23,140 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on NVO shares. Barclays reiterated an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. UBS Group cut shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a report on Tuesday, August 5th. Dbs Bank upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, August 22nd. BNP Paribas Exane raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price target on the stock in a report on Wednesday, August 13th. Finally, BMO Capital Markets dropped their price target on Novo Nordisk A/S from $50.00 to $46.00 and set a “market perform” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $57.40.

Novo Nordisk A/S Trading Up 4.6%

NYSE NVO opened at $47.06 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $210.12 billion, a P/E ratio of 12.93, a P/E/G ratio of 2.33 and a beta of 0.65. Novo Nordisk A/S has a 52-week low of $43.08 and a 52-week high of $112.52. The firm has a 50-day moving average price of $53.50 and a 200 day moving average price of $60.01.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.25. The company had revenue of $11.79 billion for the quarter, compared to analysts’ expectations of $11.98 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Novo Nordisk A/S has set its FY 2025 guidance at EPS. Equities research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

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.