Private Advisory Group LLC Sells 38,997 Shares of Novo Nordisk A/S $NVO

Private Advisory Group LLC cut its stake in Novo Nordisk A/S (NYSE:NVO) by 11.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 294,615 shares of the company’s stock after selling 38,997 shares during the period. Private Advisory Group LLC’s holdings in Novo Nordisk A/S were worth $11,169,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NVO shares. Berenberg Bank reaffirmed a “neutral” rating on shares of Novo Nordisk A/S in a report on Monday, September 21st. HSBC reissued a “hold” rating on shares of Novo Nordisk A/S in a research report on Thursday, September 10th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novo Nordisk A/S in a research report on Monday, September 21st. Deutsche Bank restated a “sell” rating on shares of Novo Nordisk A/S in a research note on Tuesday, September 29th. Finally, Weiss Ratings downgraded shares of Novo Nordisk A/S from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Five investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $59.44.

Key Headlines Impacting Novo Nordisk A/S

Here are a few of the latest headlines about NVO:

• Positive Sentiment: Wegovy pill sales reached DKK 5.4 billion in the third quarter, and prescriptions for Novo’s weight-loss drugs reportedly topped eight million. The results support Novo’s strategy of growing sales through higher treatment volume, although the company remains in a transition period. Will Wegovy Pill Drive Renewed GLP-1 Growth Momentum for Novo Stock?
• 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 Stock Performance

NVO opened at $40.66 on Friday. The business’s 50 day moving average is $40.20 and its 200-day moving average is $43.44. The stock has a market cap of $181.56 billion, a PE ratio of 10.24, a price-to-earnings-growth ratio of 1.41 and a beta of 0.70. The company has a current ratio of 0.84, a quick ratio of 0.64 and a debt-to-equity ratio of 0.54. Novo Nordisk A/S has a twelve month low of $35.12 and a twelve month high of $64.16.

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.