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

First Long Island Investors LLC acquired a new stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 31,200 shares of the company's stock, valued at approximately $3,715,000.

A number of other hedge funds have also made changes to their positions in the stock. GQG Partners LLC grew its position in Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company's stock worth $466,485,000 after purchasing an additional 3,151,584 shares in the last quarter. International Assets Investment Management LLC grew its position in Novo Nordisk A/S by 10,608.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company's stock worth $215,942,000 after purchasing an additional 1,796,635 shares in the last quarter. DSM Capital Partners LLC grew its position in Novo Nordisk A/S by 257,816.0% during the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company's stock worth $227,516,000 after purchasing an additional 1,593,303 shares in the last quarter. Acadian Asset Management LLC grew its position in Novo Nordisk A/S by 1,300.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company's stock worth $159,703,000 after purchasing an additional 1,155,313 shares in the last quarter. Finally, Mediolanum International Funds Ltd purchased a new position in Novo Nordisk A/S during the 3rd quarter worth approximately $98,765,000. Institutional investors and hedge funds own 11.54% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on NVO shares. StockNews.com upgraded shares of Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a research report on Friday, November 1st. BMO Capital Markets decreased their target price 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. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $144.50.

Novo Nordisk A/S Stock Down 3.4 %

Shares of NVO stock traded down $3.58 on Friday, hitting $101.74. The company's stock had a trading volume of 8,050,568 shares, compared to its average volume of 4,457,389. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. Novo Nordisk A/S has a fifty-two week low of $94.73 and a fifty-two week high of $148.15. The firm's fifty day moving average price is $119.17 and its 200-day moving average price is $129.75. The stock has a market capitalization of $456.56 billion, a price-to-earnings ratio of 32.66, a P/E/G ratio of 1.31 and a beta of 0.42.

About Novo Nordisk A/S

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.