AR Asset Management Inc. Makes New $583,000 Investment in Novo Nordisk A/S $NVO

AR Asset Management Inc. bought a new stake in Novo Nordisk A/S (NYSE:NVO) during the 1st quarter, Holdings Channel reports. The firm bought 15,862 shares of the company’s stock, valued at approximately $583,000.

Other institutional investors have also recently made changes to their positions in the company. Boston Partners acquired a new stake in Novo Nordisk A/S during the third quarter worth $310,199,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Novo Nordisk A/S by 99.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,688,262 shares of the company’s stock valued at $492,940,000 after purchasing an additional 4,836,285 shares during the last quarter. Voloridge Investment Management LLC grew its holdings in shares of 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 worth $244,594,000 after purchasing an additional 4,302,126 shares during the period. Bank of Montreal Can grew its holdings in shares of 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 worth $128,514,000 after purchasing an additional 1,468,409 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in shares of Novo Nordisk A/S during the 4th quarter worth about $59,882,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

More Novo Nordisk A/S News

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

• Negative Sentiment: Novo Nordisk sued Eli Lilly, accusing the rival of false and misleading advertising for Zepbound and Mounjaro, saying the campaigns rely on outdated clinical data and unfairly compare Lilly’s drugs against Novo’s products. Reuters article
• Neutral Sentiment: Several outlets highlighted the lawsuit as a major escalation in the obesity-drug rivalry, but the immediate market reaction suggests investors are still weighing whether the legal move will protect Novo’s market share or simply underscore stronger competition from Lilly. CNBC article
• Positive Sentiment: Novo Nordisk also expanded its DKK 15 billion share repurchase program, a capital-return move that can support investor sentiment and signal management confidence in the company’s valuation. TipRanks article

Analyst Ratings Changes

NVO has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Novo Nordisk A/S in a research report on Monday. Wall Street Zen downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Citigroup reaffirmed a “neutral” rating on shares of Novo Nordisk A/S in a research note on Monday. Wolfe Research began coverage on Novo Nordisk A/S in a report on Thursday, March 26th. They set a “peer perform” rating for the company. Finally, HSBC reaffirmed a “hold” rating on shares of Novo Nordisk A/S in a research report on Monday, July 6th. Five investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $65.56.

Novo Nordisk A/S Stock Down 2.4%

Shares of NYSE:NVO opened at $48.22 on Thursday. The firm’s 50 day moving average price is $46.23 and its 200 day moving average price is $45.75. The stock has a market cap of $215.29 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 4.50 and a beta of 0.77. Novo Nordisk A/S has a fifty-two week low of $35.12 and a fifty-two week high of $71.79. The company has a quick ratio of 0.56, a current ratio of 0.79 and a debt-to-equity ratio of 0.59.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $1.03 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%. As a group, equities research analysts predict that Novo Nordisk A/S will post 3.39 earnings per share for the current fiscal year.

About Novo Nordisk A/S

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.