Arcadia Investment Management Corp MI Cuts Holdings in Novo Nordisk A/S $NVO

Arcadia Investment Management Corp MI trimmed its position in Novo Nordisk A/S (NYSE:NVO) by 21.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,000 shares of the company’s stock after selling 1,354 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Novo Nordisk A/S were worth $345,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVO. Jennison Associates LLC raised its holdings in shares of Novo Nordisk A/S by 0.3% during the 2nd quarter. Jennison Associates LLC now owns 18,885,343 shares of the company’s stock worth $1,303,466,000 after acquiring an additional 63,341 shares in the last quarter. Kingstone Capital Partners Texas LLC grew its holdings in shares of Novo Nordisk A/S by 301,443.6% in the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock valued at $690,560,000 after purchasing an additional 10,001,898 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Novo Nordisk A/S by 11.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company’s stock worth $395,291,000 after purchasing an additional 576,900 shares during the last quarter. Sustainable Growth Advisers LP increased its position in Novo Nordisk A/S by 3.8% in the first quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company’s stock worth $384,923,000 after purchasing an additional 202,443 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Novo Nordisk A/S during the first quarter valued at $370,272,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Down 1.9%

NYSE:NVO opened at $48.22 on Friday. The company has a market cap of $215.32 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 2.33 and a beta of 0.65. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $112.52. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $54.55 and a 200-day simple moving average of $61.04.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.25. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The firm had revenue of $11.74 billion for the quarter, compared to analysts’ expectations of $11.98 billion. Novo Nordisk A/S has set its FY 2025 guidance at EPS. Analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NVO. Dbs Bank upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Friday, August 22nd. TD Cowen dropped their price objective on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, August 19th. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price objective on the stock in a research report on Wednesday, August 13th. Zacks Research raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Jefferies Financial Group initiated coverage on shares of Novo Nordisk A/S in a research note on Monday, October 27th. They set an “underperform” rating for the company. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $59.20.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease.