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

Novo Nordisk A/S (NYSE:NVO) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 8,300,000 shares, a growth of 76.6% from the December 15th total of 4,700,000 shares. Based on an average daily trading volume, of 6,450,000 shares, the short-interest ratio is currently 1.3 days.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NVO. 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. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. BMO Capital Markets cut their price objective on shares of 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. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Finally, Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $140.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cerro Pacific Wealth Advisors LLC lifted its position in Novo Nordisk A/S by 33.5% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,301 shares of the company’s stock worth $284,000 after acquiring an additional 828 shares during the last quarter. Apeiron RIA LLC lifted its position in shares of Novo Nordisk A/S by 25.3% during the 4th quarter. Apeiron RIA LLC now owns 5,935 shares of the company’s stock worth $510,000 after purchasing an additional 1,199 shares during the last quarter. Verde Capital Management boosted its stake in Novo Nordisk A/S by 115.6% during the 4th quarter. Verde Capital Management now owns 23,904 shares of the company’s stock valued at $2,056,000 after purchasing an additional 12,815 shares during the period. Red Door Wealth Management LLC grew its holdings in Novo Nordisk A/S by 167.3% in the 4th quarter. Red Door Wealth Management LLC now owns 9,608 shares of the company’s stock valued at $826,000 after buying an additional 6,013 shares during the last quarter. Finally, Avior Wealth Management LLC increased its position in Novo Nordisk A/S by 13.9% in the 4th quarter. Avior Wealth Management LLC now owns 20,597 shares of the company’s stock worth $1,772,000 after buying an additional 2,511 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

NVO stock traded down $4.33 during midday trading on Friday, hitting $78.74. 21,239,835 shares of the company traded hands, compared to its average volume of 9,296,463. Novo Nordisk A/S has a twelve month low of $78.17 and a twelve month high of $148.15. The stock has a market capitalization of $353.33 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 0.92 and a beta of 0.45. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The business has a 50 day simple moving average of $98.33 and a 200-day simple moving average of $117.69.

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.