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

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NVO shares. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Finally, BMO Capital Markets dropped their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $140.20.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NVO. Advisor OS LLC grew its position in shares of Novo Nordisk A/S by 0.6% during the 2nd quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after acquiring an additional 82 shares during the period. Cascade Financial Partners LLC grew its holdings in Novo Nordisk A/S by 2.3% in the second quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock valued at $543,000 after purchasing an additional 84 shares during the period. Novare Capital Management LLC increased its position in shares of Novo Nordisk A/S by 3.2% in the third 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 shares of 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. raised its stake in shares of Novo Nordisk A/S by 2.6% during the 2nd quarter. Benjamin Edwards Inc. now owns 3,455 shares of the company’s stock worth $493,000 after buying an additional 87 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO traded down $0.28 during trading on Friday, reaching $87.37. 6,060,383 shares of the company traded hands, compared to its average volume of 4,806,951. The stock has a market cap of $392.08 billion, a P/E ratio of 28.28, a PEG ratio of 1.37 and a beta of 0.40. The firm’s fifty day simple moving average is $105.94 and its 200 day simple moving average is $123.15. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. Novo Nordisk A/S has a 12-month low of $81.50 and a 12-month high of $148.15.

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.