Verus Capital Partners LLC Purchases 1,408 Shares of Novo Nordisk A/S (NYSE:NVO)

Verus Capital Partners LLC boosted its position in Novo Nordisk A/S (NYSE:NVO) by 27.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,509 shares of the company’s stock after purchasing an additional 1,408 shares during the quarter. Verus Capital Partners LLC’s holdings in Novo Nordisk A/S were worth $775,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. GQG Partners LLC boosted its stake in 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 worth $466,485,000 after acquiring an additional 3,151,584 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Novo Nordisk A/S by 10,608.4% in 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 stake 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 worth $227,516,000 after buying an additional 1,593,303 shares during the last quarter. Acadian Asset Management LLC increased 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 valued at $159,703,000 after buying 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 third quarter valued at $98,765,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NYSE NVO opened at $107.05 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. The company has a market capitalization of $480.39 billion, a price-to-earnings ratio of 34.64, a PEG ratio of 1.32 and a beta of 0.42. The stock has a 50-day moving average of $120.82 and a 200 day moving average of $130.22. Novo Nordisk A/S has a one year low of $94.73 and a one year high of $148.15.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. BMO Capital Markets reduced 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. Finally, Cantor Fitzgerald reiterated 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. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price 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.