Novo Nordisk A/S (NYSE:NVO) Sees Significant Decline in Short Interest

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

Analyst Ratings Changes

Several analysts recently issued reports on NVO shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Finally, BMO Capital Markets decreased their price target 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. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $140.20.

Novo Nordisk A/S Trading Down 0.3 %

NYSE:NVO traded down $0.28 during midday trading on Friday, hitting $87.37. The stock had a trading volume of 6,060,383 shares, compared to its average volume of 4,806,951. 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 stock has a 50-day moving average of $105.94 and a 200 day moving average of $123.15. The company has a market capitalization of $392.08 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 1.37 and a beta of 0.40. Novo Nordisk A/S has a one year low of $81.50 and a one year high of $148.15.

Hedge Funds Weigh In On Novo Nordisk A/S

Several institutional investors have recently bought and sold shares of NVO. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Novo Nordisk A/S during the second quarter valued at about $25,000. Daiwa Securities Group Inc. purchased a new stake in Novo Nordisk A/S during the third quarter valued at approximately $28,000. Abound Wealth Management increased its position in shares of Novo Nordisk A/S by 257.4% during the second quarter. Abound Wealth Management now owns 218 shares of the company’s stock worth $31,000 after purchasing an additional 157 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Novo Nordisk A/S in the 3rd quarter worth $42,000. Finally, Carolina Wealth Advisors LLC purchased a new position in Novo Nordisk A/S during the 3rd quarter worth $48,000. 11.54% of the stock is owned by hedge funds and other 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.