HighTower Advisors LLC Has $19.33 Million Position in Novo Nordisk A/S $NVO

HighTower Advisors LLC grew its holdings in Novo Nordisk A/S (NYSE:NVO) by 71.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 403,262 shares of the company’s stock after buying an additional 168,196 shares during the quarter. HighTower Advisors LLC’s holdings in Novo Nordisk A/S were worth $19,332,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Novo Nordisk A/S by 2,414.4% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 297,881 shares of the company’s stock valued at $14,280,000 after purchasing an additional 286,034 shares during the last quarter. Trust Co. of Vermont bought a new stake in shares of Novo Nordisk A/S during the second quarter worth approximately $1,250,000. Burkett Asset Management Ltd acquired a new position in Novo Nordisk A/S in the fourth quarter valued at approximately $1,823,000. Myriad Asset Management Advisors LLC acquired a new position in Novo Nordisk A/S in the second quarter valued at approximately $1,846,000. Finally, Pine Valley Investments Ltd Liability Co bought a new position in Novo Nordisk A/S in the second quarter valued at approximately $2,324,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Price Performance

Shares of NVO stock opened at $45.15 on Wednesday. Novo Nordisk A/S has a 12-month low of $35.12 and a 12-month high of $64.16. The firm has a market capitalization of $201.60 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 1.56 and a beta of 0.74. The company has a quick ratio of 0.56, a current ratio of 0.79 and a debt-to-equity ratio of 0.59. The firm has a fifty day moving average of $47.84 and a 200-day moving average of $43.71.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Tuesday, June 30th. The company reported $0.94 EPS for the quarter. The business had revenue of $11.98 billion during the quarter. Novo Nordisk A/S had a net margin of 35.36% and a return on equity of 61.20%. On average, equities research analysts forecast that Novo Nordisk A/S will post 3.45 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a dividend, which was paid on Tuesday, August 25th. Shareholders of record on Monday, August 17th were issued a $0.5786 dividend. This represents a dividend yield of 258.0%. The ex-dividend date was Monday, August 17th. Novo Nordisk A/S’s dividend payout ratio is 19.80%.

Key Stories Impacting Novo Nordisk A/S

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

• Positive Sentiment: Novo Nordisk’s phase 3 STEP Young trial met its primary endpoint. After 68 weeks, 40.4% of children aged 6 to under 12 treated with semaglutide were no longer classified as having obesity, compared with 0% in the placebo group. The results support potential future use of Wegovy in younger children, subject to regulatory review. Novo Nordisk says semaglutide cut obesity rates in young children in trial
• Positive Sentiment: The pediatric results could open another significant growth market for Novo Nordisk’s GLP-1 franchise, potentially broadening Wegovy’s reach beyond adults and adolescents. The company reported no new safety concerns related to growth or puberty in the trial coverage. Novo Nordisk’s Wegovy helps free 40% of kids from obesity in phase 3 trial
• Positive Sentiment: Novo is continuing a share-repurchase program of up to DKK 15 billion over 12 months, which may provide modest support for earnings per share and signal confidence in the company’s valuation. Novo Nordisk share repurchase programme
• Neutral Sentiment: Chief Executive Mike Doustdar expressed caution about the broader peptide investment craze. His comments suggest Novo is focused on commercially viable medicines rather than pursuing peptide technologies indiscriminately, but they may reinforce concerns about the company’s strategy as competition in obesity treatments intensifies. Why the CEO of Wegovy maker Novo Nordisk isn’t yet sold on the peptide craze
• Negative Sentiment: Novo halted two additional phase 3 trials of experimental cardiovascular drug ziltivekimab. The cancellations weaken the company’s efforts to diversify beyond its core diabetes and obesity products and reduce confidence in longer-term pipeline growth. Novo scraps two more heart drug trials
• Negative Sentiment: The contrasting trial outcomes highlighted Novo Nordisk’s concentration risk: pediatric Wegovy data were strong, but the cardiovascular setbacks leave the company more dependent on its existing obesity franchise. One analyst consequently downgraded the stock. Novo stock: STEP Young wins, but heart trials just got halted

Analysts Set New Price Targets

Several analysts have commented on the stock. Citigroup reiterated a “neutral” rating on shares of Novo Nordisk A/S in a research report on Monday, July 20th. HSBC restated a “hold” rating on shares of Novo Nordisk A/S in a research report on Monday, July 6th. Deutsche Bank Aktiengesellschaft downgraded Novo Nordisk A/S from a “hold” rating to a “sell” rating in a report on Thursday, August 27th. Zacks Research upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $64.94.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish healthcare company headquartered in Bagsværd, Denmark. Founded in 1923, the company develops and manufactures pharmaceutical products focused primarily on diabetes and obesity care, as well as treatments for rare blood disorders and growth disorders.

Its diabetes portfolio includes insulin products and medicines in the glucagon-like peptide-1 (GLP-1) class, including Ozempic, Rybelsus and Wegovy. The company also offers treatments for obesity, hemophilia and other rare conditions, along with growth hormone therapies.