Quantinno Capital Management LP Raises Stake in Novo Nordisk A/S $NVO

Quantinno Capital Management LP increased its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 10.4% during the 1st quarter, HoldingsChannel reports. The fund owned 351,692 shares of the company’s stock after buying an additional 33,006 shares during the period. Quantinno Capital Management LP’s holdings in Novo Nordisk A/S were worth $12,925,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Revolve Wealth Partners LLC raised its stake 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 valued at $214,000 after buying an additional 200 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Novo Nordisk A/S by 21.0% in the first quarter. AQR Capital Management LLC now owns 62,099 shares of the company’s stock worth $4,312,000 after acquiring an additional 10,758 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Novo Nordisk A/S by 18.2% during the second quarter. Sivia Capital Partners LLC now owns 10,320 shares of the company’s stock valued at $712,000 after acquiring an additional 1,587 shares in the last quarter. Invesco Ltd. boosted its stake in Novo Nordisk A/S by 26.3% in the 2nd quarter. Invesco Ltd. now owns 419,691 shares of the company’s stock worth $28,967,000 after purchasing an additional 87,467 shares in the last quarter. Finally, Gamco Investors INC. ET AL purchased a new stake in Novo Nordisk A/S during the 2nd quarter valued at about $314,000. Institutional investors own 11.54% of the company’s stock.

Key Headlines Impacting Novo Nordisk A/S

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

• Positive Sentiment: Reuters reports that Novo may be beginning to regain ground in the obesity-drug race with Eli Lilly, offering investors a potential recovery narrative after two difficult years of profit warnings, leadership changes and declining share performance. Obesity battle heats up again as Novo claws way back into race with Lilly
• Neutral Sentiment: Citi maintained a neutral rating, saying the market’s reaction to the failed ZEUS heart-drug trial may have been excessive. However, the bank remains on the sidelines because of concerns about obesity-drug pricing, competition and the durability of GLP-1 growth. Citi says Novo selloff overdone but GLP-1 worries keep it on the sidelines
• Neutral Sentiment: Novo is approaching its second-quarter earnings report with investors looking for evidence that demand for injectable GLP-1 medicines is stabilizing. Results and management guidance will be important for assessing whether recent weakness reflects temporary pressure or a broader slowdown. Novo Nordisk Before Q2 Earnings: How Should Investors Play the Stock?
• Negative Sentiment: Novo disclosed that ziltivekimab failed to meet the primary endpoint in the Phase 3 ZEUS trial, failing to reduce major adverse cardiovascular events versus placebo. The setback weakens hopes of diversifying growth beyond weight-loss drugs and contributed to the recent decline in investor sentiment. Novo Nordisk shares in hot water after disappointing trial
• Negative Sentiment: Eli Lilly’s upcoming results are another near-term risk: strong Mounjaro and Zepbound sales could reinforce Lilly’s competitive advantage, while early demand for its obesity product Foundayo will be watched closely by investors comparing the two companies. Will Mounjaro and Zepbound Drive Lilly’s Q2 Results

Novo Nordisk A/S Stock Performance

NVO opened at $47.12 on Tuesday. The company has a 50 day simple moving average of $46.96 and a two-hundred day simple moving average of $45.32. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.79 and a quick ratio of 0.56. The firm has a market cap of $210.37 billion, a P/E ratio of 11.06, a PEG ratio of 4.30 and a beta of 0.76. Novo Nordisk A/S has a 1-year low of $35.12 and a 1-year high of $64.16.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $1.03 EPS for the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. The firm had revenue of $10.85 billion for the quarter. Equities analysts forecast that Novo Nordisk A/S will post 3.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Zacks Research cut shares of Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Novo Nordisk A/S in a research report on Monday, July 20th. Wall Street Zen downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Citigroup reissued a “neutral” rating on shares of Novo Nordisk A/S in a report on Monday, July 20th. Finally, HSBC restated a “hold” rating on shares of Novo Nordisk A/S in a research note on Monday, July 6th. Five research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Hold” and an average price target of $65.56.

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.