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

Novo Nordisk A/S (NYSE:NVOGet Free Report) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 4,110,000 shares, a drop of 15.8% from the February 29th total of 4,880,000 shares. Based on an average daily volume of 5,020,000 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cornerstone Planning Group LLC bought a new stake in Novo Nordisk A/S in the second quarter valued at approximately $29,000. Tower Research Capital LLC TRC boosted its holdings in Novo Nordisk A/S by 165.3% during the first quarter. Tower Research Capital LLC TRC now owns 199 shares of the company’s stock worth $32,000 after purchasing an additional 124 shares during the last quarter. CNB Bank acquired a new stake in Novo Nordisk A/S in the fourth quarter valued at $26,000. Pacific Center for Financial Services lifted its stake in Novo Nordisk A/S by 100.0% in the third quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. Finally, Valued Wealth Advisors LLC acquired a new stake in Novo Nordisk A/S in the fourth quarter valued at $28,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Price Performance

Shares of NVO stock opened at $128.40 on Monday. Novo Nordisk A/S has a 1 year low of $75.56 and a 1 year high of $138.28. The firm’s 50 day moving average is $122.61 and its 200-day moving average is $105.48. The firm has a market capitalization of $576.20 billion, a price-to-earnings ratio of 47.47, a PEG ratio of 2.12 and a beta of 0.41. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.19.

Novo Nordisk A/S (NYSE:NVOGet Free Report) last announced its earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. The company had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.14 billion. Sell-side analysts forecast that Novo Nordisk A/S will post 3.35 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Tuesday, April 2nd. Investors of record on Monday, March 25th will be paid a dividend of $0.664 per share. This represents a dividend yield of 0.9%. This is an increase from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. The ex-dividend date is Friday, March 22nd. Novo Nordisk A/S’s payout ratio is 49.17%.

Wall Street Analyst Weigh In

Several research analysts recently commented on NVO shares. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, March 20th. TD Cowen lifted their target price on shares of Novo Nordisk A/S from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Monday, December 4th. Finally, UBS Group started coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 16th. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average price target of $126.25.

Check Out Our Latest Analysis on NVO

About Novo Nordisk A/S

(Get Free Report)

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.

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