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

Novo Nordisk A/S (NYSE:NVOGet Rating) saw a large drop in short interest during the month of April. As of April 30th, there was short interest totalling 1,730,000 shares, a drop of 47.1% from the April 15th total of 3,270,000 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily volume of 1,440,000 shares, the short-interest ratio is currently 1.2 days.

Several hedge funds and other institutional investors have recently modified their holdings of the company. GHP Investment Advisors Inc. grew its holdings in shares of Novo Nordisk A/S by 4.3% during the first quarter. GHP Investment Advisors Inc. now owns 2,377 shares of the company’s stock worth $264,000 after buying an additional 97 shares in the last quarter. Gitterman Wealth Management LLC grew its holdings in shares of Novo Nordisk A/S by 0.6% during the fourth quarter. Gitterman Wealth Management LLC now owns 17,130 shares of the company’s stock worth $1,919,000 after buying an additional 99 shares in the last quarter. Sigma Planning Corp grew its holdings in shares of Novo Nordisk A/S by 4.2% during the fourth quarter. Sigma Planning Corp now owns 2,468 shares of the company’s stock worth $276,000 after buying an additional 100 shares in the last quarter. Meridian Investment Counsel Inc. grew its holdings in shares of Novo Nordisk A/S by 0.8% during the first quarter. Meridian Investment Counsel Inc. now owns 12,920 shares of the company’s stock worth $1,435,000 after buying an additional 100 shares in the last quarter. Finally, Autus Asset Management LLC grew its holdings in shares of Novo Nordisk A/S by 1.2% during the fourth quarter. Autus Asset Management LLC now owns 9,104 shares of the company’s stock worth $1,020,000 after buying an additional 104 shares in the last quarter.

NVO has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Novo Nordisk A/S from 850.00 to 900.00 in a research report on Wednesday, May 4th. Stifel Nicolaus initiated coverage on shares of Novo Nordisk A/S in a research report on Monday, February 28th. They set a “buy” rating on the stock. Cowen raised shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating and set a $130.00 price objective on the stock in a research report on Monday, April 25th. StockNews.com initiated coverage on shares of Novo Nordisk A/S in a research note on Thursday, March 31st. They issued a “strong-buy” rating for the company. Finally, Cowen upgraded shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Monday, April 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Buy” and an average price target of $563.50.

NYSE:NVO opened at $104.35 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.69 and a current ratio of 0.91. The firm has a 50-day moving average price of $111.04 and a two-hundred day moving average price of $107.78. Novo Nordisk A/S has a twelve month low of $77.52 and a twelve month high of $122.16.

Novo Nordisk A/S (NYSE:NVOGet Rating) last posted its earnings results on Friday, April 29th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.09. Novo Nordisk A/S had a net margin of 33.16% and a return on equity of 72.67%. The firm had revenue of $6.34 billion during the quarter, compared to the consensus estimate of $5.82 billion. On average, equities analysts anticipate that Novo Nordisk A/S will post 3.38 earnings per share for the current year.

The firm also recently announced a Semi-Annual dividend, which was paid on Tuesday, April 5th. Shareholders of record on Monday, March 28th were issued a dividend of $0.741 per share. This is an increase from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.56. This represents a yield of 1.1%. The ex-dividend date of this dividend was Friday, March 25th. Novo Nordisk A/S’s dividend payout ratio (DPR) is 44.05%.

Novo Nordisk A/S Company Profile (Get Rating)

Novo Nordisk A/S, a healthcare company, engages in the research, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes and Obesity care, and Biopharm. The Diabetes and Obesity care segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral antidiabetic products, obesity, and other chronic diseases.

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