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

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

Institutional Trading of Novo Nordisk A/S

Institutional investors and hedge funds have recently made changes to their positions in the business. 1620 Investment Advisors Inc. acquired a new stake in shares of Novo Nordisk A/S during the second quarter worth $25,000. Gilliland Jeter Wealth Management LLC boosted its holdings in Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after buying an additional 120 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Novo Nordisk A/S during the 2nd quarter worth about $25,000. Halpern Financial Inc. increased its stake in shares of Novo Nordisk A/S by 113.0% in the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after acquiring an additional 113 shares during the last quarter. Finally, Abound Wealth Management boosted its stake in Novo Nordisk A/S by 257.4% during the 2nd quarter. Abound Wealth Management now owns 218 shares of the company’s stock worth $31,000 after acquiring an additional 157 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 1.3 %

NVO opened at $108.14 on Monday. The firm has a 50 day simple moving average of $112.81 and a 200 day simple moving average of $127.92. Novo Nordisk A/S has a fifty-two week low of $94.73 and a fifty-two week high of $148.15. The company has a market cap of $485.28 billion, a price-to-earnings ratio of 34.56, a price-to-earnings-growth ratio of 1.38 and a beta of 0.42. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75.

Analysts Set New Price Targets

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

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.