Commonwealth Equity Services LLC reported a 49.9% reduction in its position in Novo Nordisk A/S during the third quarter, according to its latest 13F filing with the SEC. The firm sold 237,049 shares, trimming its holding to 237,978 shares by quarter’s end. As of the filing date, those shares represented approximately $13.2 million of Commonwealth’s managed assets, signaling a marked shift in the asset manager’s exposure to the Danish pharmaceutical leader.

Several boutique wealth managers and niche funds adjusted their Novo Nordisk positions over the same period. True Wealth Design LLC more than tripled its holding to 443 shares, a 209.8% increase, while NewSquare Capital LLC grew by 174.1% to 444 shares. Mid American Wealth Advisory Group and Maseco LLP initiated new positions valued at roughly $37,000 and $39,000 respectively. Copeland Capital Management LLC raised its stake by 47.3%, adding 186 shares to reach 579 shares. Collectively, hedge funds and institutions now control 11.54% of the company’s stock.

In its November earnings report, Novo Nordisk posted EPS of $1.02, beating consensus by $0.25, and generated revenue of $11.79 billion, narrowly trailing the $11.98 billion estimate. The company delivered a return on equity of 73.5% and a net margin of 32.8%, underscoring robust profitability. Management’s guidance for the full year anticipates 3.84 EPS, reflecting confidence in continued sales momentum across its diabetes and obesity franchises.

Equity research houses remain divided on Novo Nordisk’s near-term prospects. Berenberg Bank upgraded its view to Buy, while Weiss Ratings reiterated a Sell grade. Jefferies initiated coverage with an Underperform call and HSBC holds a Hold stance with a $54 target. MarketBeat data shows one Strong Buy, seven Buy, eleven Hold and four Sell recommendations, resulting in a consensus rating of Hold. Analysts point to sustained demand for GLP-1 therapies but flag pricing pressures and evolving competitive dynamics as risks.