Novo Nordisk A/S $NVO Stock: Phoenix Financial Ltd. Grows Stake

Phoenix Financial Ltd. raised its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 35.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 214,973 shares of the company’s stock after acquiring an additional 56,630 shares during the quarter. Phoenix Financial Ltd.’s holdings in Novo Nordisk A/S were worth $8,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of NVO. Scarborough Advisors LLC purchased a new stake in shares of Novo Nordisk A/S in the 1st quarter worth $26,000. Financial Freedom LLC bought a new position in Novo Nordisk A/S in the 3rd quarter worth $30,000. Root Financial Partners LLC purchased a new position in Novo Nordisk A/S during the third quarter valued at $32,000. Continuum Advisory LLC purchased a new position in Novo Nordisk A/S during the second quarter valued at $38,000. Finally, Latitude Advisors LLC purchased a new position in Novo Nordisk A/S during the third quarter valued at $38,000. Institutional investors own 11.54% of the company’s stock.

More Novo Nordisk A/S News

Investors following NVO have been watching these news items:

• Positive Sentiment: Novo submitted U.S. and European applications for etavopivat, an investigational once-daily oral treatment for sickle cell disease in patients aged 12 and older. The filings add a potential product opportunity beyond the company’s diabetes and obesity business, but the drug is not yet approved. Novo submits etavopivat to the FDA and EMA
• Neutral Sentiment: Novo enlisted DJ Khaled to share his Wegovy experience as part of a U.S. promotional campaign. The partnership could raise awareness, though its impact on prescriptions and sales is uncertain. Novo and DJ Khaled team up to promote Wegovy
• Negative Sentiment: Eli Lilly secured China’s first approval for an oral GLP-1 weight-loss drug, giving it an early lead in a major market while Novo’s own oral product has yet to launch there. The development highlights intensifying competition in obesity treatment. Eli Lilly beats Novo to oral China GLP-1 market

Analysts Set New Price Targets

A number of analysts have commented on NVO shares. Berenberg Bank restated a “neutral” rating on shares of Novo Nordisk A/S in a research report on Monday, September 21st. BMO Capital Markets set a $40.00 price objective on Novo Nordisk A/S and gave the stock a “market perform” rating in a research note on Monday, October 12th. UBS Group reaffirmed a “neutral” rating on shares of Novo Nordisk A/S in a research report on Monday, September 21st. HSBC reaffirmed a “hold” rating on shares of Novo Nordisk A/S in a research report on Thursday, September 10th. Finally, DZ Bank reiterated a “neutral” rating on shares of Novo Nordisk A/S in a research note on Thursday, August 6th. Five investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Hold” and an average target price of $59.44.

Novo Nordisk A/S Price Performance

Shares of NVO stock traded up $1.00 on Friday, hitting $41.65. 11,697,709 shares of the stock traded hands, compared to its average volume of 11,352,963. The firm has a market cap of $185.99 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 1.40 and a beta of 0.70. Novo Nordisk A/S has a 52 week low of $35.12 and a 52 week high of $64.16. The firm has a 50 day simple moving average of $40.09 and a two-hundred day simple moving average of $43.34. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.84 and a quick ratio of 0.64.

Novo Nordisk A/S Profile

Novo Nordisk A/S is a Danish pharmaceutical company focused on treatments for diabetes, obesity and other serious chronic diseases. Its portfolio includes insulin and other diabetes medicines, as well as obesity treatments such as Wegovy and diabetes treatments such as Ozempic and Rybelsus. The company also develops medicines for rare blood and endocrine disorders, including hemophilia and growth disorders. Its products are sold in markets around the world. Novo Nordisk traces its roots to Danish insulin companies founded in the 1920s; the two organizations that became Novo Nordisk merged in 1989.