Novo Nordisk A/S (NYSE:NVO) Short Interest Update

Novo Nordisk A/S (NYSE:NVO) was the recipient of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 4,700,000 shares, a decline of 17.3% from the November 30th total of 5,680,000 shares. Based on an average trading volume of 6,240,000 shares, the days-to-cover ratio is presently 0.8 days.

Novo Nordisk A/S Trading Down 0.1 %

NYSE NVO traded down $0.06 during trading hours on Tuesday, hitting $85.67. 2,615,185 shares of the company’s stock were exchanged, compared to its average volume of 4,802,864. Novo Nordisk A/S has a 1-year low of $81.50 and a 1-year high of $148.15. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The stock has a 50-day simple moving average of $105.31 and a 200 day simple moving average of $122.61. The firm has a market cap of $384.45 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 1.37 and a beta of 0.40.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NVO. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Finally, BMO Capital Markets decreased their target price on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. One 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.com, Novo Nordisk A/S currently has an average rating of “Buy” and an average price target of $140.20.

Institutional Trading of Novo Nordisk A/S

Several large investors have recently modified their holdings of NVO. Advisor OS LLC grew its holdings in Novo Nordisk A/S by 0.6% in the second quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock worth $1,994,000 after purchasing an additional 82 shares during the period. Cascade Financial Partners LLC grew its stake in shares of Novo Nordisk A/S by 2.3% in the 2nd quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock valued at $543,000 after buying an additional 84 shares during the period. Novare Capital Management LLC increased its position in Novo Nordisk A/S by 3.2% in the 3rd quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after buying an additional 85 shares in the last quarter. Steel Grove Capital Advisors LLC raised its stake in Novo Nordisk A/S by 2.3% during the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock worth $541,000 after buying an additional 86 shares during the period. Finally, Benjamin Edwards Inc. boosted its holdings in Novo Nordisk A/S by 2.6% in the second quarter. Benjamin Edwards Inc. now owns 3,455 shares of the company’s stock worth $493,000 after acquiring an additional 87 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

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.