PAX Financial Group LLC Trims Stock Position in Novo Nordisk A/S $NVO

PAX Financial Group LLC cut its position in Novo Nordisk A/S (NYSE:NVO) by 28.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,228 shares of the company’s stock after selling 2,891 shares during the quarter. PAX Financial Group LLC’s holdings in Novo Nordisk A/S were worth $499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Western Wealth Management LLC raised its position in shares of Novo Nordisk A/S by 15.6% in the second quarter. Western Wealth Management LLC now owns 5,245 shares of the company’s stock worth $362,000 after buying an additional 706 shares in the last quarter. Financial Gravity Companies Inc. purchased a new position in Novo Nordisk A/S during the second quarter worth about $2,039,000. MJP Associates Inc. ADV increased its stake in Novo Nordisk A/S by 44.1% in the 2nd quarter. MJP Associates Inc. ADV now owns 5,271 shares of the company’s stock worth $364,000 after acquiring an additional 1,613 shares during the last quarter. Sustainable Growth Advisers LP raised its holdings in shares of Novo Nordisk A/S by 11.7% in the 2nd 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. Finally, Advisory Resource Group boosted its position in shares of Novo Nordisk A/S by 4.5% during the 2nd quarter. Advisory Resource Group now owns 15,154 shares of the company’s stock valued at $1,046,000 after acquiring an additional 651 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Novo Nordisk A/S in a report on Tuesday, November 11th. Wall Street Zen downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Jefferies Financial Group assumed coverage on Novo Nordisk A/S in a research note on Monday, October 27th. They issued an “underperform” rating on the stock. Finally, BMO Capital Markets restated a “market perform” rating on shares of Novo Nordisk A/S in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $59.20.

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO opened at $48.52 on Tuesday. 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 company has a 50-day moving average price of $54.44 and a 200-day moving average price of $60.85. The company has a market cap of $216.63 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 2.33 and a beta of 0.65. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $112.52.

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

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.