Novo Nordisk A/S (NYSE:NVO) Sees Large Growth in Short Interest

Novo Nordisk A/S (NYSE:NVO) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 6,490,000 shares, a growth of 12.1% from the August 30th total of 5,790,000 shares. Based on an average daily volume of 1,570,000 shares, the short-interest ratio is presently 4.1 days. Approximately 0.4% of the shares of the stock are sold short.

Several brokerages have recently issued reports on NVO. UBS Group reaffirmed a “buy” rating and issued a $355.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, June 19th. Deutsche Bank cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $52.42 price objective on the stock. in a research note on Thursday, June 20th. Citigroup raised shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 17th. Bank of America lifted their price objective on shares of Novo Nordisk A/S from $355.00 to $400.00 and gave the stock a “neutral” rating in a research note on Friday, September 13th. Finally, Pareto Securities raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Novo Nordisk A/S presently has an average rating of “Hold” and a consensus price target of $159.65.

Several institutional investors have recently added to or reduced their stakes in NVO. Meridian Wealth Management LLC purchased a new position in shares of Novo Nordisk A/S in the first quarter worth approximately $48,000. Full Sail Capital LLC purchased a new position in Novo Nordisk A/S during the first quarter valued at approximately $404,000. Clearbridge Investments LLC grew its position in Novo Nordisk A/S by 42.3% during the first quarter. Clearbridge Investments LLC now owns 1,160,942 shares of the company’s stock valued at $60,729,000 after purchasing an additional 344,989 shares in the last quarter. GYL Financial Synergies LLC purchased a new position in Novo Nordisk A/S during the first quarter valued at approximately $1,090,000. Finally, Advisory Services Network LLC grew its position in Novo Nordisk A/S by 120.1% during the first quarter. Advisory Services Network LLC now owns 7,074 shares of the company’s stock valued at $370,000 after purchasing an additional 3,860 shares in the last quarter. 7.34% of the stock is currently owned by institutional investors and hedge funds.

Shares of Novo Nordisk A/S stock traded down $0.18 during trading on Wednesday, hitting $52.29. The stock had a trading volume of 823,850 shares, compared to its average volume of 1,419,068. The stock has a 50 day simple moving average of $51.68 and a 200 day simple moving average of $50.12. The company has a market capitalization of $123.75 billion, a PE ratio of 20.75, a P/E/G ratio of 2.14 and a beta of 0.58. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.06. Novo Nordisk A/S has a 1 year low of $41.59 and a 1 year high of $53.55.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Friday, August 9th. The company reported $0.61 earnings per share for the quarter, hitting the consensus estimate of $0.61. The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.41 billion. Novo Nordisk A/S had a net margin of 32.16% and a return on equity of 75.16%. As a group, equities analysts expect that Novo Nordisk A/S will post 2.43 earnings per share for the current fiscal year.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S, a healthcare company, engages in the development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.

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