Novo Nordisk A/S (NYSE:NVO) Short Interest Down 31.1% in March

Novo Nordisk A/S (NYSE:NVO - Get Free Report) saw a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 2,830,000 shares, a drop of 31.1% from the March 15th total of 4,110,000 shares. Based on an average daily volume of 5,070,000 shares, the short-interest ratio is currently 0.6 days.

Institutional Trading of Novo Nordisk A/S

Several hedge funds and other institutional investors have recently made changes to their positions in NVO. IHT Wealth Management LLC raised its position in Novo Nordisk A/S by 3.5% during the fourth quarter. IHT Wealth Management LLC now owns 2,369 shares of the company's stock worth $321,000 after acquiring an additional 80 shares during the last quarter. Cravens & Co Advisors LLC raised its position in Novo Nordisk A/S by 1.0% during the first quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company's stock worth $1,059,000 after acquiring an additional 85 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its position in Novo Nordisk A/S by 0.6% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 15,421 shares of the company's stock worth $1,595,000 after acquiring an additional 90 shares during the last quarter. Hancock Whitney Corp grew its holdings in shares of Novo Nordisk A/S by 4.1% during the first quarter. Hancock Whitney Corp now owns 2,342 shares of the company's stock worth $373,000 after buying an additional 92 shares in the last quarter. Finally, Clarius Group LLC grew its holdings in shares of Novo Nordisk A/S by 0.5% during the fourth quarter. Clarius Group LLC now owns 18,505 shares of the company's stock worth $1,914,000 after buying an additional 93 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Wall Street Analysts Forecast Growth

NVO has been the topic of several research reports. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 23rd. They set an "overweight" rating and a $120.00 price objective on the stock. BMO Capital Markets initiated coverage on shares of Novo Nordisk A/S in a research report on Friday. They set an "outperform" rating and a $163.00 price objective on the stock. UBS Group initiated coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 16th. They set a "neutral" rating on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, April 1st. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of "Moderate Buy" and an average target price of $133.60.

Novo Nordisk A/S Stock Performance

Shares of NVO stock traded down $0.88 during mid-day trading on Friday, hitting $124.52. The stock had a trading volume of 3,310,069 shares, compared to its average volume of 4,987,559. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.64. Novo Nordisk A/S has a fifty-two week low of $75.56 and a fifty-two week high of $138.28. The company's 50-day simple moving average is $125.71 and its 200-day simple moving average is $109.38. The firm has a market cap of $558.79 billion, a PE ratio of 46.16, a PEG ratio of 2.08 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $9.51 billion during the quarter, compared to analysts' expectations of $9.14 billion. Sell-side analysts anticipate that Novo Nordisk A/S will post 3.32 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 25th were paid a $0.664 dividend. This is a boost from Novo Nordisk A/S's previous Semi-Annual dividend of $0.22. The ex-dividend date of this dividend was Friday, March 22nd. This represents a dividend yield of 0.9%. Novo Nordisk A/S's dividend payout ratio (DPR) is 48.89%.

About Novo Nordisk A/S

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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