Quantinno Capital Management LP Buys 33,006 Shares of Novo Nordisk A/S $NVO

Quantinno Capital Management LP increased its stake in Novo Nordisk A/S (NYSE:NVO) by 10.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 351,692 shares of the company’s stock after acquiring 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.

Other institutional investors and hedge funds have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership bought a new stake in Novo Nordisk A/S in the first quarter valued at approximately $287,660,000. Boston Partners purchased a new position in shares of Novo Nordisk A/S in the third quarter worth $310,199,000. Price T Rowe Associates Inc. MD increased its stake in shares of Novo Nordisk A/S by 99.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,688,262 shares of the company’s stock worth $492,940,000 after buying an additional 4,836,285 shares during the period. Voloridge Investment Management LLC raised its holdings in Novo Nordisk A/S by 851.6% during the 4th quarter. Voloridge Investment Management LLC now owns 4,807,279 shares of the company’s stock valued at $244,594,000 after buying an additional 4,302,126 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in Novo Nordisk A/S by 138.9% during the 4th quarter. Bank of Montreal Can now owns 2,525,827 shares of the company’s stock valued at $128,514,000 after buying an additional 1,468,409 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NVO. Wall Street Zen lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Nordea Equity Research upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Friday, June 19th. Zacks Research cut Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Citigroup restated a “neutral” rating on shares of Novo Nordisk A/S in a report on Monday, July 20th. Finally, HSBC reiterated a “hold” rating on shares of Novo Nordisk A/S in a report on Monday, July 6th. Five analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Hold” and an average price target of $65.56.

Trending Headlines about 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 Price Performance

Shares of NYSE NVO opened at $47.12 on Tuesday. Novo Nordisk A/S has a 1 year low of $35.12 and a 1 year high of $64.16. 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 company’s 50-day moving average is $46.96 and its 200 day moving average is $45.32. The stock has a market capitalization of $210.37 billion, a P/E ratio of 11.06, a P/E/G ratio of 4.30 and a beta of 0.76.

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

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.