Empower Advisory Group LLC Trims Stock Position in Novo Nordisk A/S $NVO

Empower Advisory Group LLC trimmed its holdings in Novo Nordisk A/S (NYSE:NVO) by 42.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,093 shares of the company’s stock after selling 4,549 shares during the period. Empower Advisory Group LLC’s holdings in Novo Nordisk A/S were worth $421,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of NVO. First Hawaiian Bank boosted its position in shares of Novo Nordisk A/S by 0.6% in the first quarter. First Hawaiian Bank now owns 22,401 shares of the company’s stock worth $1,556,000 after acquiring an additional 142 shares during the last quarter. Anchor Investment Management LLC boosted its holdings in shares of Novo Nordisk A/S by 1.1% in the 1st quarter. Anchor Investment Management LLC now owns 13,597 shares of the company’s stock valued at $944,000 after purchasing an additional 150 shares during the last quarter. Xponance Inc. grew its stake in shares of Novo Nordisk A/S by 5.0% during the 1st quarter. Xponance Inc. now owns 3,314 shares of the company’s stock valued at $230,000 after buying an additional 158 shares during the period. Foster Dykema Cabot & Partners LLC grew its stake in shares of Novo Nordisk A/S by 3.8% during the 1st quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company’s stock valued at $319,000 after buying an additional 166 shares during the period. Finally, Werba Rubin Papier Wealth Management increased its holdings in shares of Novo Nordisk A/S by 4.1% during the 2nd quarter. Werba Rubin Papier Wealth Management now owns 4,378 shares of the company’s stock worth $302,000 after buying an additional 173 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analysts Set New Price Targets

NVO has been the topic of a number of research analyst reports. Zacks Research upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Novo Nordisk A/S in a research note on Tuesday, November 11th. Rothschild & Co Redburn upgraded shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 16th. BMO Capital Markets reaffirmed a “market perform” rating and set a $55.00 price target (up from $50.00) on shares of Novo Nordisk A/S in a research report on Tuesday, October 14th. Finally, Wall Street Zen lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $59.20.

Novo Nordisk A/S Trading Down 1.9%

NVO opened at $48.22 on Monday. The firm has a market capitalization of $215.32 billion, a P/E ratio of 13.25, a P/E/G ratio of 2.33 and a beta of 0.65. The firm’s 50 day moving average is $54.55 and its 200-day moving average is $60.97. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $112.52. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.

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

Novo Nordisk A/S Company 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.