MQS Management LLC Buys Shares of 3,047 Novo Nordisk A/S (NYSE:NVO)

MQS Management LLC purchased a new position in shares of Novo Nordisk A/S (NYSE:NVO) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,047 shares of the company’s stock, valued at approximately $363,000.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NVO shares. StockNews.com raised 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 report on Thursday, October 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. One 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO opened at $105.35 on Friday. The firm has a market cap of $472.76 billion, a PE ratio of 34.09, a PEG ratio of 1.29 and a beta of 0.42. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. Novo Nordisk A/S has a 12-month low of $94.73 and a 12-month high of $148.15. The company’s 50 day moving average price is $119.68 and its two-hundred day moving average price is $129.92.

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.