Short Interest in Novo Nordisk A/S (NVO) Expands By 39.1%
Novo Nordisk A/S (NYSE:NVO) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 2,684,937 shares, a growth of 39.1% from the September 15th total of 1,930,401 shares. Based on an average daily volume of 3,218,863 shares, the short-interest ratio is currently 0.8 days.
Several hedge funds and other institutional investors have recently bought and sold shares of NVO. Canada Pension Plan Investment Board bought a new position in Novo Nordisk A/S during the first quarter worth approximately $26,380,000. Donaldson Capital Management LLC boosted its position in Novo Nordisk A/S by 6.4% in the first quarter. Donaldson Capital Management LLC now owns 70,168 shares of the company’s stock worth $3,802,000 after buying an additional 4,240 shares during the period. State Farm Mutual Automobile Insurance Co. boosted its position in Novo Nordisk A/S by 3.5% in the first quarter. State Farm Mutual Automobile Insurance Co. now owns 4,619,014 shares of the company’s stock worth $250,305,000 after buying an additional 156,820 shares during the period. Scotia Capital Inc. boosted its position in Novo Nordisk A/S by 50.3% in the first quarter. Scotia Capital Inc. now owns 139,375 shares of the company’s stock worth $7,555,000 after buying an additional 46,661 shares during the period. Finally, Edmond DE Rothschild Holding S.A. boosted its position in Novo Nordisk A/S by 6.3% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 15,100 shares of the company’s stock worth $818,000 after buying an additional 900 shares during the period. 7.54% of the stock is owned by hedge funds and other institutional investors.
Novo Nordisk A/S (NYSE:NVO) opened at 40.56 on Wednesday. The company has a market cap of $102.87 billion, a price-to-earnings ratio of 19.18 and a beta of 0.73. Novo Nordisk A/S has a 1-year low of $39.03 and a 1-year high of $59.00. The company’s 50-day moving average is $43.63 and its 200 day moving average is $51.17.
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NVO has been the subject of several research analyst reports. HSBC raised shares of Novo Nordisk A/S from a “reduce” rating to a “hold” rating in a research report on Wednesday, August 31st. Deutsche Bank AG raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Monday, September 12th. Bank of America Corp. downgraded shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Monday, August 8th. Morgan Stanley downgraded shares of Novo Nordisk A/S from an “overweight” rating to an “equal weight” rating in a research report on Thursday, September 1st. Finally, Jefferies Group reissued a “hold” rating on shares of Novo Nordisk A/S in a research report on Wednesday, September 14th. Seven research 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. Novo Nordisk A/S presently has an average rating of “Buy” and a consensus price target of $61.33.
About Novo Nordisk A/S
Novo Nordisk A/S is a healthcare company. The Company is engaged in discovery, development, manufacturing and marketing of pharmaceutical products. The Company’s business segments include diabetes and obesity care, and biopharmaceuticals. The diabetes and obesity care segment covers insulins, glucagon-like peptide-1 (GLP-1), other protein-related products (such as glucagon, protein-related delivery systems and needles), oral anti-diabetic drugs and obesity.
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