FORA Capital LLC Takes $5.31 Million Position in Novo Nordisk A/S (NYSE:NVO)

FORA Capital LLC purchased a new stake in Novo Nordisk A/S (NYSE:NVO) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 44,590 shares of the company’s stock, valued at approximately $5,309,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its position in Novo Nordisk A/S by 10,608.4% during the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after buying an additional 1,796,635 shares during the period. DSM Capital Partners LLC increased its holdings in shares of Novo Nordisk A/S by 257,816.0% in the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after acquiring an additional 1,593,303 shares during the period. Mediolanum International Funds Ltd purchased a new stake in Novo Nordisk A/S in the 3rd quarter valued at $98,765,000. Marshall Wace LLP boosted its stake in Novo Nordisk A/S by 34,472.1% during the 2nd quarter. Marshall Wace LLP now owns 691,441 shares of the company’s stock worth $98,696,000 after purchasing an additional 689,441 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in Novo Nordisk A/S during the 2nd quarter worth $41,646,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NVO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. BMO Capital Markets decreased their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $144.50.

Novo Nordisk A/S Price Performance

Shares of NVO traded down $1.00 during mid-day trading on Wednesday, hitting $105.13. The company’s stock had a trading volume of 457,541 shares, compared to its average volume of 4,501,441. The firm has a 50-day simple moving average of $114.32 and a 200 day simple moving average of $128.49. Novo Nordisk A/S has a 1-year low of $94.73 and a 1-year high of $148.15. The firm has a market capitalization of $471.77 billion, a P/E ratio of 34.35, a P/E/G ratio of 1.35 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43.

Novo Nordisk A/S Company 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.