The Danish pharmaceutical giant Novo Nordisk had a strong start on the stock market in the first half of last year. With positive news surrounding diabetes treatments and weight loss products, the stock price soared to a peak of 1,004 Danish kroner in June 2024.
However, since then, the stock has been on a downward trend and is now trading around 421 Danish kroner. Just this year alone, the stock price has plummeted by 32%.
Despite the decline in the stock price, the share of funds and fund companies has not decreased. As a group, fund companies have only reduced their stake in the ownership by 0.1% since the beginning of the year, according to data from the ownership database Holdings.
Among the Swedish funds that have ownership in Novo Nordisk, Alecta Tjänstepension is the largest with a total holding worth 10.6 billion Danish kroner. Coming in second on the list is Handelsbanken Norden Index Criteria, which holds Novo Nordisk shares worth 3.2 billion Danish kroner.
Yesterday, it was also revealed that the American company Vanguard has increased its ownership in the pharmaceutical company by 6.7 million shares. The American investment company, which also holds shares worth over 5% in AstraZeneca, now owns 3% of the shares in Novo Nordisk.
Novo Nordisk’s recent struggles on the stock market raise questions about the future of the company and its position in the pharmaceutical industry. It remains to be seen how the company will navigate these challenges and whether it can regain its former momentum in the market.