Short Interest in Novo Nordisk A/S (NYSE:NVO) Expands By 76.6%

Novo Nordisk A/S (NYSE:NVO) was the recipient of 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 volume of 6,450,000 shares, the short-interest ratio is currently 1.3 days.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. BMO Capital Markets cut their target price on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Finally, UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $140.20.

Novo Nordisk A/S Stock Down 5.2 %

Shares of NYSE NVO traded down $4.33 during trading hours on Friday, hitting $78.74. The stock had a trading volume of 21,239,835 shares, compared to its average volume of 9,296,463. The company has a market capitalization of $353.33 billion, a P/E ratio of 25.48, a P/E/G ratio of 0.92 and a beta of 0.45. The firm’s 50-day moving average price is $98.33 and its two-hundred day moving average price is $117.69. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. Novo Nordisk A/S has a 52 week low of $78.17 and a 52 week high of $148.15.

Institutional Trading of Novo Nordisk A/S

Large investors have recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Novo Nordisk A/S in the 2nd quarter valued at $25,000. Daiwa Securities Group Inc. acquired a new stake in shares of Novo Nordisk A/S in the third quarter worth about $28,000. Capital Performance Advisors LLP acquired a new stake in shares of Novo Nordisk A/S in the third quarter worth about $42,000. Carolina Wealth Advisors LLC bought a new stake in shares of Novo Nordisk A/S during the 3rd quarter worth about $48,000. Finally, M&R Capital Management Inc. raised its stake in shares of Novo Nordisk A/S by 260.5% in the 3rd quarter. M&R Capital Management Inc. now owns 411 shares of the company’s stock valued at $49,000 after acquiring an additional 297 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

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.