Saturna Capital Corp Sells 281,992 Shares of Novo Nordisk A/S $NVO

Saturna Capital Corp lessened its holdings in Novo Nordisk A/S (NYSE:NVO) by 13.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,790,627 shares of the company’s stock after selling 281,992 shares during the period. Novo Nordisk A/S comprises approximately 0.9% of Saturna Capital Corp’s holdings, making the stock its 29th biggest position. Saturna Capital Corp’s holdings in Novo Nordisk A/S were worth $65,806,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Loomis Sayles & Co. L P increased its holdings in Novo Nordisk A/S by 6.0% during the fourth quarter. Loomis Sayles & Co. L P now owns 17,135,384 shares of the company’s stock valued at $871,848,000 after buying an additional 969,916 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Novo Nordisk A/S by 5.1% during the 4th quarter. Franklin Resources Inc. now owns 14,702,508 shares of the company’s stock worth $748,064,000 after acquiring an additional 717,719 shares during the last quarter. Morgan Stanley grew its position in shares of Novo Nordisk A/S by 3.5% during the 4th quarter. Morgan Stanley now owns 12,842,089 shares of the company’s stock valued at $653,406,000 after acquiring an additional 428,660 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Novo Nordisk A/S by 99.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,688,262 shares of the company’s stock valued at $492,940,000 after acquiring an additional 4,836,285 shares during the period. Finally, State Street Corp increased its stake in shares of Novo Nordisk A/S by 1.0% in the 3rd quarter. State Street Corp now owns 6,106,836 shares of the company’s stock worth $340,125,000 after purchasing an additional 59,153 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 0.4%

Shares of NVO stock opened at $49.40 on Wednesday. The company has a market capitalization of $220.58 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 4.53 and a beta of 0.77. Novo Nordisk A/S has a one year low of $35.12 and a one year high of $71.79. The company’s fifty day moving average price is $46.21 and its 200-day moving average price is $45.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.79 and a quick ratio of 0.56.

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

Novo Nordisk A/S News Roundup

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

• Positive Sentiment: Novo Nordisk received a boost from continued momentum behind Wegovy, including reports that the newly approved oral version in Europe could expand the drug’s reach and improve the company’s competitive position. Wegovy Pill in Europe – Novo Nordisk Expands Franchise With First European Approval for Oral Weight Loss Drug
• Positive Sentiment: Citi reportedly raised its price target on Novo Nordisk ahead of earnings, citing stronger-than-expected Wegovy pill launch trends and higher sales and profit estimates, which supports a more bullish near-term outlook. Citi lifts Novo Nordisk target on strong GLP-1 pill launch
• Positive Sentiment: Novo Nordisk also announced progress in China through Fangzhou’s launch of Kyinsu, a once-weekly basal insulin/GLP-1 combination therapy, broadening its international diabetes footprint. Fangzhou Launches Novo Nordisk’s Once-Weekly Basal Insulin/GLP-1 Therapy in China
• Neutral Sentiment: The company said it is continuing a DKK 15 billion share repurchase program, which can help offset dilution and signal management confidence, but is not a major new catalyst on its own. Novo Nordisk A/S – share repurchase programme
• Negative Sentiment: The biggest near-term headwind is Novo Nordisk’s lawsuit against Eli Lilly, alleging misleading advertising and outdated clinical data in campaigns for Zepbound and Mounjaro. While the suit aims to protect Novo’s brands, it also highlights intensifying competition in obesity drugs and adds litigation risk. Novo Nordisk says it is suing Eli Lilly, accusing it of false advertising

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Novo Nordisk A/S in a report on Monday. Zacks Research lowered Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Wolfe Research began coverage on Novo Nordisk A/S in a research report on Thursday, March 26th. They issued a “peer perform” rating for the company. Citigroup reaffirmed a “neutral” rating on shares of Novo Nordisk A/S in a research report on Monday. Finally, Wall Street Zen downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Five research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Novo Nordisk A/S has an average rating of “Hold” and an average price target of $65.56.

About Novo Nordisk A/S

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.