B&L Asset Management LLC Acquires 57,961 Shares in Novo Nordisk A/S

B&L Asset Management LLC has recently acquired a new stake in Novo Nordisk A/S (NYSE:NVO) during the third quarter. According to the latest Form 13F filing with the Securities and Exchange Commission, the fund purchased 57,961 shares of Novo Nordisk, which are valued at approximately $6,901,000. This investment makes Novo Nordisk A/S about 4.4% of B&L Asset Management LLC's total holdings, positioning it as the third largest investment in their portfolio.

Recent Activity from Other Investors

Along with B&L Asset Management LLC, several other large investors have recently adjusted their positions in Novo Nordisk A/S. For instance, Envestnet Asset Management Inc. increased its stake by 1.4% during the second quarter, and now owns 4,254,180 shares valued at $607,242,000 after purchasing an additional 58,935 shares. Raymond James & Associates also raised its holdings by 1.0% in the third quarter, bringing their total to 3,526,821 shares worth $419,939,000 after acquiring an extra 36,223 shares.

Furthermore, Natixis Advisors LLC boosted its position by 2.7% during the third quarter, now holding 3,074,876 shares valued at $366,125,000 following the purchase of an additional 80,070 shares. International Assets Investment Management LLC significantly lifted its stake by 10,608.4%, acquiring 1,811,571 shares worth $215,942,000 after acquiring a staggering 1,796,635 shares.

Lastly, DSM Capital Partners LLC dramatically increased its holdings by 257,816.0% in the second quarter, owning 1,593,921 shares valued at $227,516,000 after an addition of 1,593,303 shares. Overall, hedge funds and other institutional investors collectively own about 11.54% of Novo Nordisk A/S.

Stock Performance

As of Friday, shares of Novo Nordisk A/S opened at $106.80. The company has a market capitalization of $479.27 billion and a PE ratio of 34.56. Additionally, it has a price-to-earnings-growth ratio of 1.38 and a beta of 0.42. Financial ratios indicate a quick ratio of 0.75, a current ratio of 0.94, and a debt-to-equity ratio of 0.43. The fifty-day moving average stands at $112.81, while the two-hundred-day moving average is at $127.97. Over the past year, the stock has seen a low of $94.73 and a high of $148.15.

Analyst Opinions and Price Targets

A variety of research analysts have provided insights into Novo Nordisk A/S's stock performance. Cantor Fitzgerald has reiterated an "overweight" rating, setting a target price of $160.00 for the shares. Meanwhile, StockNews.com upgraded their rating from "buy" to "strong-buy" as of November 1st. BMO Capital Markets also adjusted their price target, lowering it from $160.00 to $156.00 while maintaining an "outperform" rating. Overall, one analyst has rated the stock as a hold, six as a buy, and one has designated it as a strong buy. According to MarketBeat.com, Novo Nordisk A/S has an average rating of "Buy" with a consensus target price of $144.50.

About Novo Nordisk A/S

Novo Nordisk A/S is involved in the research, development, manufacture, and distribution of pharmaceutical products across various regions, including Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, and North America. The company operates in key segments, focusing on Diabetes and Obesity Care, as well as Rare Disease.

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