Fisher Asset Management Announces Decrease in Stake of Novo Nordisk… Leave a comment

On April 22, 2023, Fisher Asset Management LLC announced a decrease in its stake in Novo Nordisk A/S by 3.3% based on the most recent Form 13F filing with the Securities & Exchange Commission. Fisher Asset Management LLC had previously owned 9,026,001 shares of the company’s stock and sold 306,861 shares during the fourth quarter. The firm currently owns approximately 0.40% worth $1,221,579,000 of Novo Nordisk A/S after selling portions of its holdings.

Novo Nordisk A/S is an international pharmaceutical firm that specializes in discovery, research and development of innovative health care products to treat life-threatening diseases. Its primary segments include both Diabetes and Obesity Care as well as Biopharmaceuticals.

Notwithstanding the seller’s actions and the possible impact it may have on stock prices, few investors doubt the long-term strength of Novo Nordisk A/S within its healthcare ecosystem – especially when considering how closely intertwined healthcare innovation is with technological advances like AI and data analytics.

On Friday April 21st NVO traded at $172.65 per share up by $7.28 during trading hours that day alone with a volume exchange of over 1 million shares relative to an average exchange rate of just over 1 million shares daily. It has a beta score of just .48 with a PE ratio set at nearly sixty implying that investors continue placing their bets strongly on growth stocks like Novo Nordisk A/S for long term positive returns on investment.

The market capitalization of Novo Nordisk A/S stands tall at $390.70 billion which speaks volumes about its significance in global healthcare management coupled with its price-to-earnings ratio set at $47.66 per share denoting strong fundamentals necessary for any company hoping to establish a dominant foothold in this sector.

The future for companies such as these seems to remain bright yet highly competitive, with potential advancements in specialized therapeutics and telemedicine emerging as growth areas in coming years. So while Novo Nordisk A/S may have seen a slight reduction in Fisher Asset Management’s holdings, it seems highly unlikely that this will have any significant impact on the company’s overall growth potential for the foreseeable future, making it a strong contender for any cautious or even aggressive investor who aims to ride out the ever-fluctuating waves of the market.

Institutional Investors Show Interest in Novo Nordisk A/S Amid Favorable Reports and Financial Growth

Institutional investors have been buying and selling shares of Novo Nordisk A/S, a global healthcare company engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. Resonant Capital Advisors LLC acquired a new stake in the company during Q4 2022 worth $258,000 while Westside Investment Management Inc. raised its position by 46.5% to own shares worth $118,000 after acquiring an additional 279 shares in the last quarter. Keybank National Association OH owns 27,511 shares of the stock worth $2,741,000 after acquiring an additional 2,755 shares in the last quarter.

Brookstone Capital Management raised its position by 6.1% in Q4 2022 and now owns 8,304 shares worth $1,151,000 after acquiring an additional 479 shares. Finally, Old North State Trust LLC bought a new stake in NVO during Q3 2022 worth about $41,000. Institutional investors and hedge funds currently own about 6.09% of Novo Nordisk A/S’s stock.

Various research reports have emerged regarding Novo Nordisk A/S with JPMorgan Chase & Co boosting their price target from $925.00 to $1,100.00 thereby awarding it an “overweight” rating in January earlier this year while Credit Suisse Group upgraded Novo Nordisk A/S’ rating from “neutral” to “outperform” more recently on April 13th this year.

In addition to these reports is the initiation of coverage by StockNews.com who rated NVO as a “strong-buy” on March 16th. Further analysis reveals that out of twelve equities research analysts assessing the company’s current stock situation; one has given it a sell rating; three gave it a hold rating; eight bestowed upon it a buy rating and one gave it a strong buy rating. Hence, the average rating estimated by the company is “Moderate Buy” with an anticipated consensus price target of $687.50.

NVO announced its quarterly earnings results for Q4 2022 on February 1st after which the company’s shares have been on an upward rise. Novo Nordisk A/S reported EPS of $0.83 during this period beating the consensus estimate of $0.81 by $0.02 while the business reportedly earned a revenue of $6.60 billion compared to analysts’ expectations of $6.74 billion with a return on equity of 73.39% and a net margin of 31.44%.

Lastly, NVO announced in April that it was doubling its semi-annual dividend payout from $0.58 to $1,1887 per share declaring shareholders would be paid on Tuesday, April 4th, thereby representing a dividend yield of 0.8%. This announcement has served as good news to investors looking to maximize their investments in Novo Nordisk A/S amid favorable stock reports and steady financial growth.

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