Connor Clark & Lunn Investment Management Ltd. Sells 3,538 Shares of Novo Nordisk A/S $NVO

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 14.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 20,321 shares of the company’s stock after selling 3,538 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Novo Nordisk A/S were worth $1,403,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in NVO. Stone House Investment Management LLC bought a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at $30,000. NewSquare Capital LLC grew its holdings in Novo Nordisk A/S by 174.1% during the second quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock valued at $31,000 after purchasing an additional 282 shares during the period. Disciplina Capital Management LLC grew its holdings in Novo Nordisk A/S by 162.3% during the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock valued at $33,000 after purchasing an additional 297 shares during the period. Dagco Inc. purchased a new stake in Novo Nordisk A/S in the first quarter worth about $35,000. Finally, Mid American Wealth Advisory Group Inc. bought a new position in shares of Novo Nordisk A/S in the second quarter worth about $37,000. 11.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. BMO Capital Markets reissued a “market perform” rating on shares of Novo Nordisk A/S in a report on Monday. 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 on the stock. HSBC set a $70.00 price target on Novo Nordisk A/S in a research note on Wednesday, October 1st. Rothschild Redb upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 16th. Finally, UBS Group lowered Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $59.20.

Novo Nordisk A/S Trading Up 0.5%

Shares of Novo Nordisk A/S stock opened at $48.52 on Tuesday. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $112.52. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $54.44 and a 200-day moving average price of $60.85. The firm has a market cap of $216.63 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 2.33 and a beta of 0.65.

Novo Nordisk A/S (NYSE:NVO) last posted its 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. The company had revenue of $11.74 billion for the quarter, compared to the consensus estimate of $11.98 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Novo Nordisk A/S has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

About Novo Nordisk A/S

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.