Assetmark Inc. Has $8.30 Million Stock Holdings in Novo Nordisk A/S $NVO

Assetmark Inc. trimmed its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 4.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 225,788 shares of the company’s stock after selling 11,608 shares during the quarter. Assetmark Inc.’s holdings in Novo Nordisk A/S were worth $8,298,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PeakShares LLC boosted its holdings in shares of Novo Nordisk A/S by 31.1% during the first quarter. PeakShares LLC now owns 12,642 shares of the company’s stock worth $465,000 after acquiring an additional 3,000 shares during the period. Angeles Wealth Management LLC increased its stake in shares of Novo Nordisk A/S by 17.0% during the first quarter. Angeles Wealth Management LLC now owns 5,939 shares of the company’s stock worth $226,000 after purchasing an additional 863 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Novo Nordisk A/S by 24.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 38,209 shares of the company’s stock worth $1,394,000 after purchasing an additional 7,465 shares during the period. Independent Financial Group LLC acquired a new stake in Novo Nordisk A/S during the 1st quarter worth approximately $445,000. Finally, Wealthfront Advisers LLC boosted its stake in Novo Nordisk A/S by 63.2% in the 1st quarter. Wealthfront Advisers LLC now owns 13,805 shares of the company’s stock valued at $507,000 after purchasing an additional 5,348 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S News Roundup

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

• Positive Sentiment: European regulators approved Wegovy as the first GLP-1 obesity tablet, giving Novo Nordisk a new oral option that could expand the company’s reach beyond injectable treatments. Wegovy Pill in Europe – Novo Nordisk Expands Franchise With First European Approval for Oral Weight Loss Drug
• Positive Sentiment: Citi raised its price target on Novo Nordisk ahead of Q2 results, citing strong Wegovy pill launch trends and lifting its sales and earnings estimates for the next several years. Citi lifts Novo Nordisk target on strong GLP-1 pill launch
• Positive Sentiment: Prescription data cited in recent commentary suggests oral Wegovy is gaining traction quickly in the U.S., with most new scripts coming from patients new to GLP-1 therapy, which could mean market expansion rather than cannibalization. Novo Nordisk’s Rally Has Room To Run Driven By Oral Wegovy’s Momentum
• Positive Sentiment: Novo Nordisk also expanded its diabetes portfolio in China by launching Kyinsu through Fangzhou’s AI-driven Internet hospital platform, potentially improving access and adding another growth channel. Fangzhou Launches Novo Nordisk’s Once-Weekly Basal Insulin/GLP-1 Therapy in China
• Neutral Sentiment: Analysts and media commentary note that while the Wegovy pill improves Novo’s product mix, the company still faces intense competition in the GLP-1 market, keeping the longer-term outlook mixed. Does EU Approval of Wegovy Pill Change NVO’s Competitive Story?
• Neutral Sentiment: Novo Nordisk also continued its share repurchase program, which can support the stock, but this is a routine capital-allocation update rather than a major new catalyst. Novo Nordisk A/S – share repurchase programme

Analysts Set New Price Targets

Several research analysts have weighed in on NVO shares. Citigroup reiterated a “neutral” rating on shares of Novo Nordisk A/S in a research report on Monday. Nordea Equity Research upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Friday, June 19th. Wall Street Zen lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Zacks Research lowered shares of Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Finally, HSBC reiterated a “hold” rating on shares of Novo Nordisk A/S in a research report on Monday, July 6th. Five equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $65.56.

Novo Nordisk A/S Trading Down 1.4%

NVO opened at $49.61 on Tuesday. The stock has a market capitalization of $221.52 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 4.59 and a beta of 0.77. 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 has a twelve month low of $35.12 and a twelve month high of $71.79. The company has a 50-day simple moving average of $46.16 and a 200 day simple moving average of $45.78.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Tuesday, March 31st. The company reported $1.03 EPS for the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. The firm had revenue of $10.85 billion for the quarter. Analysts predict that Novo Nordisk A/S will post 3.38 EPS for the current fiscal year.

Novo Nordisk A/S Company Profile

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.