Short Interest in Sandoz Group AG Sponsored ADR (OTCMKTS:SDZNY) Declines By 28.8%

Key Points

• Sandoz Group AG saw a significant decline in short interest, dropping 28.8% from 67,400 shares to 48,000 shares as of August 31st.
• Jefferies Financial Group downgraded Sandoz Group from a "strong-buy" rating to a "hold," with an average rating of "Hold" from analysts.
• The company’s stock performance shows a current trading price of $58.77, with a 1-year low of $35.61 and a high of $63.72.

Sandoz Group AG Sponsored ADR (OTCMKTS:SDZNY - Get Free Report) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 48,000 shares, a decline of 28.8% from the August 15th total of 67,400 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily volume of 39,600 shares, the days-to-cover ratio is currently 1.2 days. Based on an average daily volume of 39,600 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.0% of the shares of the company are short sold.

Sandoz Group Trading Up 0.7%

Shares of OTCMKTS SDZNY traded up $0.39 on Friday, hitting $60.03. The company's stock had a trading volume of 29,699 shares, compared to its average volume of 24,252. Sandoz Group has a 12-month low of $35.61 and a 12-month high of $63.72. The company has a quick ratio of 0.79, a current ratio of 1.24 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average of $59.66 and a 200-day moving average of $50.96.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group lowered shares of Sandoz Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 8th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of "Hold".

About Sandoz Group

Sandoz Group AG develops, manufactures, and markets generic pharmaceuticals and biosimilars worldwide. The company covers therapeutic areas, including cardiovascular, central nervous system, oncology, infectious diseases, pain and respiratory, diabetes, immunology, endocrinology, hematology, and ophthalmology, as well as bone disease.