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

Novo Nordisk A/S (NYSE:NVO) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 8,300,000 shares, an increase 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 days-to-cover ratio is currently 1.3 days.

Institutional Investors Weigh In On Novo Nordisk A/S

Hedge funds have recently made changes to their positions in the company. Natixis Advisors LLC raised its stake in Novo Nordisk A/S by 2.7% during the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock valued at $366,125,000 after purchasing an additional 80,070 shares during the period. Norman Fields Gottscho Capital Management LLC raised its position in Novo Nordisk A/S by 45.3% during the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company’s stock valued at $5,482,000 after buying an additional 19,870 shares during the period. Talbot Financial LLC purchased a new stake in Novo Nordisk A/S in the 4th quarter worth about $4,066,000. Versant Capital Management Inc acquired a new stake in Novo Nordisk A/S during the 4th quarter worth about $86,000. Finally, Zions Bancorporation N.A. grew its stake in Novo Nordisk A/S by 57.0% during the 3rd quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company’s stock valued at $2,207,000 after acquiring an additional 6,726 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

NVO has been the subject of several research analyst reports. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Finally, UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Novo Nordisk A/S has a consensus rating of “Buy” and a consensus price target of $140.20.

Novo Nordisk A/S Trading Down 5.2 %

NVO stock traded down $4.33 during mid-day trading on Friday, reaching $78.74. 21,239,835 shares of the stock traded hands, compared to its average volume of 9,296,463. Novo Nordisk A/S has a 52-week low of $78.17 and a 52-week high of $148.15. The stock’s fifty day moving average is $98.33 and its 200-day moving average is $117.69. The company has a market cap 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 company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43.

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.