Novo Nordisk A/S (NYSE:NVO) Short Interest Up 76.6% in December

Novo Nordisk A/S (NYSE:NVO) was the target of a large increase in short interest during 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 trading volume of 6,450,000 shares, the days-to-cover ratio is presently 1.3 days.

Novo Nordisk A/S Stock Down 4.0 %

Shares of NYSE NVO opened at $81.27 on Wednesday. Novo Nordisk A/S has a 1 year low of $80.05 and a 1 year high of $148.15. The firm has a 50-day simple moving average of $99.26 and a two-hundred day simple moving average of $118.18. The company has a market cap of $364.70 billion, a P/E ratio of 26.30, a PEG ratio of 1.37 and a beta of 0.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75.

Institutional Investors Weigh In On Novo Nordisk A/S

Institutional investors and hedge funds have recently modified their holdings of the business. Strategic Investment Solutions Inc. IL bought a new position in shares of Novo Nordisk A/S in the second quarter worth about $25,000. Daiwa Securities Group Inc. bought a new stake in shares of Novo Nordisk A/S during the third quarter valued at approximately $28,000. Capital Performance Advisors LLP purchased a new stake in shares of Novo Nordisk A/S in the third quarter valued at approximately $42,000. Carolina Wealth Advisors LLC bought a new position in Novo Nordisk A/S in the third quarter worth approximately $48,000. Finally, M&R Capital Management Inc. increased its holdings in Novo Nordisk A/S by 260.5% during the 3rd quarter. M&R Capital Management Inc. now owns 411 shares of the company’s stock worth $49,000 after purchasing an additional 297 shares during the period. 11.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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.