Novo Nordisk Cuts Wegovy Prices in China by 48%, Shares Fall 2%
Novo Nordisk cut prices of its Wegovy doses in China by 48% to 987-1,284 yuan per month, according to Chinese media, triggering a 2% share decline. The move precedes the 2026 patent expiration on semaglutide and aims to maintain competitiveness against domestic generics and Eli Lilly’s Zepbound.
1. Eldred Rock Partners Increases Stake Significantly
Eldred Rock Partners LLC raised its position in Novo Nordisk A/S shares by 11.5% during the third quarter, adding 18,932 shares to reach a total holding of 184,151 shares. This stake represents approximately 2.5% of the firm’s overall investment portfolio, making it the 22nd largest position, and was valued at $10,219,000 at the end of the reporting period.
2. Other Institutional Investors Adjust Holdings
Several hedge funds and institutional investors also modified their stakes in Novo Nordisk A/S. NewSquare Capital LLC boosted its holding by 174.1% to 444 shares (valued at $31,000), Mid American Wealth Advisory Group Inc. initiated a position worth $37,000, the State of Wyoming purchased $38,000 of shares, Maseco LLP established a $39,000 stake, and Copeland Capital Management LLC increased its position by 47.3% to 579 shares (worth $40,000). In aggregate, these investors own 11.54% of the company’s outstanding shares.
3. Analyst Ratings and Consensus Target
Equity research firms maintain a mixed view of Novo Nordisk A/S. Among covering analysts, one has issued a Strong Buy rating, six have rated the stock as Buy, eleven have maintained a Hold rating and four have issued Sell ratings. Data compiled by MarketBeat.com indicate an average rating of Hold and a consensus target price of 53.33, reflecting tempered expectations despite the recent uptick in institutional activity.