Novo Nordisk A/S (NYSE:NVO) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 4,680,000 shares, an increase of 19.1% from the August 31st total of 3,930,000 shares. Based on an average trading volume of 962,300 shares, the days-to-cover ratio is currently 4.9 days. Currently, 0.3% of the shares of the company are sold short.
Several equities research analysts recently weighed in on the stock. Morgan Stanley reiterated an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Monday, August 3rd. Bank of America lowered shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Monday, July 6th. Berenberg Bank initiated coverage on shares of Novo Nordisk A/S in a research note on Tuesday. They set a “hold” rating on the stock. UBS Group reiterated a “neutral” rating on shares of Novo Nordisk A/S in a research note on Tuesday, August 18th. Finally, BofA Securities lowered shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Monday, July 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $72.00.
NYSE:NVO traded down $0.59 during trading hours on Friday, reaching $68.66. 801,407 shares of the company’s stock were exchanged, compared to its average volume of 1,539,549. The company has a market capitalization of $161.68 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 2.63 and a beta of 0.40. Novo Nordisk A/S has a 12 month low of $49.24 and a 12 month high of $70.46. The company has a quick ratio of 0.83, a current ratio of 1.09 and a debt-to-equity ratio of 0.05. The business’s 50-day simple moving average is $67.09 and its two-hundred day simple moving average is $64.27.
Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Thursday, August 6th. The company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.03. The firm had revenue of $4.43 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Novo Nordisk A/S had a net margin of 32.73% and a return on equity of 73.42%. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 2.69 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the stock. Shine Investment Advisory Services Inc. bought a new stake in Novo Nordisk A/S during the second quarter worth approximately $25,000. Prime Capital Investment Advisors LLC boosted its stake in Novo Nordisk A/S by 55.8% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 698 shares of the company’s stock worth $46,000 after purchasing an additional 250 shares during the period. Berman Capital Advisors LLC boosted its stake in Novo Nordisk A/S by 114.5% in the 2nd quarter. Berman Capital Advisors LLC now owns 798 shares of the company’s stock worth $51,000 after purchasing an additional 426 shares during the period. Beese Fulmer Investment Management Inc. acquired a new position in Novo Nordisk A/S in the 2nd quarter worth approximately $59,000. Finally, Princeton Global Asset Management LLC boosted its stake in Novo Nordisk A/S by 30.8% in the 2nd quarter. Princeton Global Asset Management LLC now owns 1,570 shares of the company’s stock worth $102,000 after purchasing an additional 370 shares during the period. Hedge funds and other institutional investors own 6.08% of the company’s stock.
About Novo Nordisk A/S
Novo Nordisk A/S, a healthcare company, engages in the development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.
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