Marex Group plc Buys New Stake in Novo Nordisk A/S $NVO

Marex Group plc purchased a new position in shares of Novo Nordisk A/S (NYSE:NVO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 181,066 shares of the company’s stock, valued at approximately $12,497,000. Novo Nordisk A/S accounts for approximately 0.1% of Marex Group plc’s investment portfolio, making the stock its 29th largest position.

Several other hedge funds also recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC boosted its position 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 worth $690,560,000 after buying an additional 10,001,898 shares during the period. Amundi lifted its position in Novo Nordisk A/S by 49.1% during the 1st quarter. Amundi now owns 4,938,507 shares of the company’s stock worth $331,576,000 after acquiring an additional 1,627,051 shares in the last quarter. Bank of Montreal Can boosted its holdings in Novo Nordisk A/S by 101.4% in the 2nd quarter. Bank of Montreal Can now owns 2,475,300 shares of the company’s stock worth $170,845,000 after acquiring an additional 1,246,467 shares during the period. Acadian Asset Management LLC boosted its holdings in Novo Nordisk A/S by 15,919.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock worth $72,523,000 after acquiring an additional 1,038,137 shares during the period. Finally, Sustainable Growth Advisers LP grew its position in Novo Nordisk A/S by 11.7% in the second quarter. Sustainable Growth Advisers LP now owns 6,192,636 shares of the company’s stock valued at $427,416,000 after acquiring an additional 649,390 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NVO. BMO Capital Markets decreased their target price on shares of Novo Nordisk A/S from $50.00 to $46.00 and set a “market perform” rating for the company in a research note on Tuesday, November 25th. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 9th. TD Cowen lowered their target price on 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. Berenberg Bank raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. Finally, Rothschild & Co Redburn raised Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $53.33.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $50.12 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.78. Novo Nordisk A/S has a 1 year low of $43.08 and a 1 year high of $109.88. The firm’s 50-day simple moving average is $50.86 and its 200-day simple moving average is $58.36. The firm has a market cap of $223.79 billion, a PE ratio of 14.57 and a beta of 0.67.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.25. Novo Nordisk A/S had a return on equity of 73.50% and a net margin of 32.76%.The firm had revenue of $11.79 billion during the quarter, compared to analyst estimates of $11.98 billion. Equities analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share 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.