Novo Nordisk A/S $NVO Stock: Fisher Asset Management LLC Decreases Stake

Fisher Asset Management LLC reduced its stake in Novo Nordisk A/S (NYSE:NVO) by 4.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,949,470 shares of the company’s stock after selling 375,478 shares during the quarter. Fisher Asset Management LLC’s holdings in Novo Nordisk A/S were worth $301,364,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Russell Investments Group Ltd. raised its holdings in shares of Novo Nordisk A/S by 23.0% in the third quarter. Russell Investments Group Ltd. now owns 269,464 shares of the company’s stock valued at $10,215,000 after purchasing an additional 50,392 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Novo Nordisk A/S by 1.7% during the third quarter. Fifth Third Bancorp now owns 38,784 shares of the company’s stock valued at $1,470,000 after purchasing an additional 652 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in Novo Nordisk A/S by 1.2% during the third quarter. Ritholtz Wealth Management now owns 60,961 shares of the company’s stock worth $2,311,000 after purchasing an additional 742 shares during the last quarter. First Command Advisory Services Inc. boosted its holdings in Novo Nordisk A/S by 81.2% during the third quarter. First Command Advisory Services Inc. now owns 2,528 shares of the company’s stock worth $96,000 after purchasing an additional 1,133 shares during the last quarter. Finally, AMG National Trust Bank boosted its holdings in Novo Nordisk A/S by 15.4% during the third quarter. AMG National Trust Bank now owns 12,354 shares of the company’s stock worth $468,000 after purchasing an additional 1,644 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S News Summary

Here’s some of the latest news about NVO:

• Positive Sentiment: BMO raised its price target for NVO, offering support for the shares, though the article describes technical signals as mixed. Novo Nordisk Stock Price Prediction: BMO’s Higher Target Meets a Mixed Technical Tape
• Neutral Sentiment: Novo signed DJ Khaled as a Wegovy ambassador, with plans for him to share his weight-management experience and routine. The campaign may raise awareness, but its sales impact is uncertain. Novo and DJ Khaled Team Up to Take Fans Behind the Scenes
• Negative Sentiment: Eli Lilly secured China’s first approval for an oral GLP-1 weight-loss drug, giving a key competitor an early lead in a major market and increasing pressure on Novo to defend its position. Eli Lilly Beats Novo to Oral China GLP-1RA Market on NMPA Approval

Novo Nordisk A/S Trading Down 1.0%

Shares of Novo Nordisk A/S stock opened at $40.66 on Friday. Novo Nordisk A/S has a 1 year low of $35.12 and a 1 year high of $64.16. The firm has a market cap of $181.56 billion, a PE ratio of 10.56, a P/E/G ratio of 1.41 and a beta of 0.70. The stock has a fifty day moving average price of $40.20 and a 200-day moving average price of $43.44. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.84 and a quick ratio of 0.64.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Deutsche Bank reaffirmed a “sell” rating on shares of Novo Nordisk A/S in a research report on Tuesday, September 29th. Cfra cut shares of Novo Nordisk A/S from a “hold” rating to a “sell” rating and set a $38.00 target price on the stock. in a research report on Tuesday, September 22nd. JPMorgan Chase & Co. restated a “neutral” rating on shares of Novo Nordisk A/S in a research note on Monday, September 21st. Berenberg Bank restated a “neutral” rating on shares of Novo Nordisk A/S in a research note on Monday, September 21st. Finally, UBS Group reaffirmed a “neutral” rating on shares of Novo Nordisk A/S in a report on Monday, September 21st. Five analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $59.44.

Novo Nordisk A/S Company 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.