In its latest 13F filing for the third quarter, Commonwealth Equity Services LLC reported a 49.9% reduction in its position in Novo Nordisk A/S. The firm sold 237,049 shares during the period and ended the quarter holding 237,978 shares. At the end of that reporting period, Commonwealth’s remaining position was valued at approximately $13.2 million, reflecting a substantial shift in its exposure to the Danish pharmaceutical leader.

Several smaller asset managers also updated their Novo Nordisk holdings during recent quarters. True Wealth Design LLC increased its stake by 209.8%, adding 300 shares to reach 443 shares valued at roughly $25,000. NewSquare Capital LLC grew its holding by 174.1%, acquiring 282 additional shares to total 444 shares worth about $31,000. Mid American Wealth Advisory Group Inc. and Maseco LLP initiated new positions valued at $37,000 and $39,000 respectively, while Copeland Capital Management LLC boosted its position by 47.3%, purchasing 186 shares for a total holding of 579 shares (approximately $40,000). Overall, hedge funds and other institutional investors now own 11.54% of the company’s stock.

On November 5th, Novo Nordisk reported third-quarter results that included earnings per share of $1.02, surpassing consensus estimates of $0.77 by $0.25. Revenue for the quarter reached $11.79 billion, slightly below the analyst consensus of $11.98 billion. The company delivered a return on equity of 73.50% and achieved a net margin of 32.76%. Analysts currently project full-year EPS of 3.84. Novo Nordisk’s debt-to-equity ratio stands at 0.52, with a quick ratio of 0.57 and a current ratio of 0.78, underscoring its solid balance sheet and liquidity position.