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

Novo Nordisk A/S (NYSE:NVO) was the target of a large decrease in short interest in the month of January. As of January 15th, there was short interest totaling 28,156,368 shares, a decrease of 13.1% from the December 31st total of 32,384,787 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average trading volume of 21,753,433 shares, the short-interest ratio is presently 1.3 days. Based on an average trading volume of 21,753,433 shares, the short-interest ratio is presently 1.3 days. Approximately 0.6% of the shares of the company are sold short.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of institutional investors have recently bought and sold shares of NVO. True Wealth Design LLC boosted its stake in shares of Novo Nordisk A/S by 209.8% in the third quarter. True Wealth Design LLC now owns 443 shares of the company’s stock worth $25,000 after acquiring an additional 300 shares during the period. Guerra Advisors Inc purchased a new position in Novo Nordisk A/S in the 3rd quarter worth approximately $25,000. WealthCollab LLC boosted its stake in Novo Nordisk A/S by 93.5% in the 4th quarter. WealthCollab LLC now owns 538 shares of the company’s stock worth $27,000 after purchasing an additional 260 shares during the period. American National Bank & Trust bought a new position in Novo Nordisk A/S in the 4th quarter worth approximately $28,000. Finally, Maseco LLP purchased a new stake in Novo Nordisk A/S during the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NVO traded down $0.65 during midday trading on Tuesday, reaching $58.28. The company had a trading volume of 3,651,310 shares, compared to its average volume of 21,233,469. The business has a 50-day moving average of $53.72 and a two-hundred day moving average of $54.28. The company has a quick ratio of 0.57, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a 1 year low of $43.08 and a 1 year high of $93.80. The company has a market cap of $260.22 billion, a P/E ratio of 16.94 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.25. Novo Nordisk A/S had a net margin of 32.76% and a return on equity of 73.50%. The company had revenue of $11.79 billion during the quarter, compared to analyst estimates of $11.98 billion. As a group, equities research analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on NVO. BMO Capital Markets set a $57.00 price target on shares of Novo Nordisk A/S in a research note on Monday, January 26th. Argus reissued a “hold” rating on shares of Novo Nordisk A/S in a report on Monday, December 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Novo Nordisk A/S in a report on Monday, December 29th. HSBC reissued a “hold” rating and issued a $54.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, December 10th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $42.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Novo Nordisk A/S currently has an average rating of “Hold” and an average target price of $57.79.

About Novo Nordisk A/S

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.