First Long Island Investors LLC Takes $3.72 Million Position in Novo Nordisk A/S (NYSE:NVO)

First Long Island Investors LLC bought a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 31,200 shares of the company’s stock, valued at approximately $3,715,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in Novo Nordisk A/S by 10.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after acquiring an additional 823,036 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Novo Nordisk A/S by 1.4% in the second quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock worth $607,242,000 after purchasing an additional 58,935 shares in the last quarter. GQG Partners LLC lifted its position in shares of Novo Nordisk A/S by 654.6% during the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after buying an additional 3,151,584 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Novo Nordisk A/S by 1.0% in the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock valued at $419,939,000 after buying an additional 36,223 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its position in shares of Novo Nordisk A/S by 7.8% in the 1st quarter. 1832 Asset Management L.P. now owns 2,373,029 shares of the company’s stock worth $304,697,000 after buying an additional 172,003 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock traded down $3.92 during trading on Friday, hitting $101.40. 1,795,628 shares of the company’s stock were exchanged, compared to its average volume of 4,429,113. The stock has a market capitalization of $455.04 billion, a price-to-earnings ratio of 32.91, a PEG ratio of 1.31 and a beta of 0.42. The business has a 50-day simple moving average of $119.17 and a 200-day simple moving average of $129.75. Novo Nordisk A/S has a 52-week low of $94.73 and a 52-week high of $148.15. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94.

Wall Street Analysts Forecast Growth

NVO has been the subject of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets lowered their price objective on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Profile

Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease.