TD Asset Management Inc Invests $20.27 Million in Novo Nordisk A/S $NVO

TD Asset Management Inc bought a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 398,408 shares of the company’s stock, valued at approximately $20,271,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Godfrey Financial Associates Inc. bought a new stake in Novo Nordisk A/S in the fourth quarter valued at about $25,000. WealthCollab LLC increased its holdings in Novo Nordisk A/S by 93.5% in the fourth quarter. WealthCollab LLC now owns 538 shares of the company’s stock valued at $27,000 after buying an additional 260 shares during the last quarter. American National Bank & Trust bought a new stake in Novo Nordisk A/S in the fourth quarter valued at about $28,000. Jackson Grant Investment Advisers Inc. bought a new stake in Novo Nordisk A/S in the fourth quarter valued at about $29,000. Finally, Maseco LLP bought a new stake in Novo Nordisk A/S in the fourth quarter valued at about $29,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $42.93 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.79 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average of $41.62 and a two-hundred day moving average of $46.17. Novo Nordisk A/S has a 52 week low of $35.12 and a 52 week high of $81.44. The company has a market cap of $191.66 billion, a P/E ratio of 10.08, a PEG ratio of 3.83 and a beta of 0.78.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Tuesday, March 31st. The company reported $1.03 EPS for the quarter. Novo Nordisk A/S had a return on equity of 63.31% and a net margin of 37.23%.The company had revenue of $10.85 billion during the quarter. As a group, analysts anticipate that Novo Nordisk A/S will post 3.46 EPS for the current year.

Key Stories Impacting Novo Nordisk A/S

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

• Positive Sentiment: TD Cowen raised its 2030 GLP-1 sales forecast to $150 billion and expects Novo Nordisk to remain one of the two dominant leaders alongside Eli Lilly, implying continued long-term demand for obesity and diabetes therapies. GLP-1 Sales Forecast Jumps To $150 Billion By 2030
• Positive Sentiment: Novo Nordisk is expanding internationally as only 1%–2% of global patients currently use obesity drugs, suggesting a large untapped market if pricing and access improve over time. Novo And Lilly Push Beyond US As Only 1%-2% Use Obesity Drugs Globally
• Positive Sentiment: Novo Nordisk announced a clinical supply agreement with Veru for a Phase 2b obesity trial testing Wegovy in combination with enobosarm, giving the company another potential path to extend its obesity franchise. Novo Nordisk Tests Wegovy Combinations In Older Adults With Veru Trial
• Neutral Sentiment: Investor attention is elevated ahead of Novo Nordisk’s ADA conference data releases and June 7 R&D event, which could create volatility depending on pipeline updates and clinical readouts. Novo Nordisk gains as investors position for ADA data and June 7 R&D event
• Neutral Sentiment: Novo Nordisk is also getting broad market attention as a “trending stock,” but that reflects heightened investor interest rather than a clearly stock-moving fundamental update. Novo Nordisk A/S (NVO) Is a Trending Stock: Facts to Know Before Betting on It

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NVO. Deutsche Bank Aktiengesellschaft lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, February 23rd. Weiss Ratings lowered Novo Nordisk A/S from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 22nd. The Goldman Sachs Group reissued a “neutral” rating and issued a $41.00 price objective (down from $63.00) on shares of Novo Nordisk A/S in a report on Monday, March 2nd. Kepler Capital Markets lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, TD Cowen lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $42.00 price objective for the company. in a report on Tuesday, March 10th. Four research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $65.56.

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.