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

Novo Nordisk A/S (NYSE:NVO) saw a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 4,930,000 shares, a drop of 18.5% from the October 31st total of 6,050,000 shares. Based on an average trading volume of 4,790,000 shares, the days-to-cover ratio is presently 1.0 days.

Analysts Set New Price Targets

NVO has been the subject of a number of recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. BMO Capital Markets cut their price target on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $144.50.

Institutional Trading of Novo Nordisk A/S

A number of institutional investors have recently modified their holdings of NVO. Tidal Investments LLC lifted its position in Novo Nordisk A/S by 13.1% during the 1st quarter. Tidal Investments LLC now owns 4,146 shares of the company’s stock worth $532,000 after acquiring an additional 481 shares in the last quarter. Burney Co. acquired a new position in shares of Novo Nordisk A/S in the 1st quarter valued at approximately $243,000. Cetera Investment Advisers raised its position in shares of Novo Nordisk A/S by 453.3% in the 1st quarter. Cetera Investment Advisers now owns 265,538 shares of the company’s stock valued at $34,095,000 after purchasing an additional 217,545 shares in the last quarter. Cetera Advisors LLC raised its position in shares of Novo Nordisk A/S by 106.8% in the 1st quarter. Cetera Advisors LLC now owns 63,633 shares of the company’s stock valued at $8,170,000 after purchasing an additional 32,862 shares in the last quarter. Finally, Soltis Investment Advisors LLC acquired a new position in shares of Novo Nordisk A/S in the 1st quarter valued at approximately $208,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 0.6 %

NVO traded up $0.67 during midday trading on Friday, hitting $106.80. The company’s stock had a trading volume of 2,775,149 shares, compared to its average volume of 4,509,884. 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 firm has a market cap of $479.27 billion, a P/E ratio of 34.56, a PEG ratio of 1.37 and a beta of 0.42. The firm has a 50-day moving average price of $112.81 and a two-hundred day moving average price of $128.00. Novo Nordisk A/S has a 52-week low of $94.73 and a 52-week high of $148.15.

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.