Novo Nordisk A/S $NVO Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its stake in Novo Nordisk A/S (NYSE:NVO) by 4.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,949,470 shares of the company’s stock after selling 375,478 shares during the quarter. Fisher Asset Management LLC owned about 0.18% of Novo Nordisk A/S worth $301,364,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of NVO. Scarborough Advisors LLC acquired a new position in shares of Novo Nordisk A/S during the first quarter valued at about $26,000. Root Financial Partners LLC bought a new position in shares of Novo Nordisk A/S during the 3rd quarter worth about $32,000. Continuum Advisory LLC acquired a new stake in shares of Novo Nordisk A/S in the 2nd quarter valued at about $38,000. Latitude Advisors LLC acquired a new stake in shares of Novo Nordisk A/S in the 3rd quarter valued at about $38,000. Finally, Markowski Investments acquired a new stake in shares of Novo Nordisk A/S in the 2nd quarter valued at about $43,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Zacks Research raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. BMO Capital Markets set a $40.00 price target on Novo Nordisk A/S and gave the stock a “market perform” rating in a report on Monday, October 12th. Weiss Ratings lowered Novo Nordisk A/S from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. HSBC reissued a “hold” rating on shares of Novo Nordisk A/S in a research note on Thursday, September 10th. Finally, DZ Bank restated a “neutral” rating on shares of Novo Nordisk A/S in a report on Thursday, August 6th. Five equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $59.44.

Novo Nordisk A/S Stock Down 1.0%

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 capitalization of $181.56 billion, a price-to-earnings ratio of 10.56, a price-to-earnings-growth ratio of 1.41 and a beta of 0.70. The firm’s fifty day moving average price is $40.20 and its two-hundred day moving average price is $43.44. 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 News Roundup

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

About Novo Nordisk A/S

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.