Novo Nordisk (NYSE:NVO) was the target of a significant decrease in short interest during the month of March. As of March 29th, there was short interest totalling 1,255,045 shares, a decrease of 42.5% from the March 15th total of 2,182,514 shares. Based on an average daily trading volume, of 1,221,682 shares, the short-interest ratio is presently 1.0 days. Currently, 0.1% of the shares of the stock are short sold.
A number of brokerages have recently commented on NVO. Zacks Investment Research cut shares of Novo Nordisk from a “hold” rating to a “sell” rating in a research report on Thursday, April 12th. Deutsche Bank reiterated a “buy” rating on shares of Novo Nordisk in a research report on Monday, January 8th. Finally, JPMorgan Chase upgraded shares of Novo Nordisk from an “underweight” rating to a “neutral” rating in a research report on Friday, December 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $64.00.
Institutional investors have recently added to or reduced their stakes in the stock. Aevitas Wealth Management Inc. acquired a new stake in Novo Nordisk during the fourth quarter worth about $107,000. SeaCrest Wealth Management LLC acquired a new stake in Novo Nordisk during the fourth quarter worth about $176,000. Charter Trust Co. acquired a new stake in Novo Nordisk during the fourth quarter worth about $201,000. Addenda Capital Inc. acquired a new stake in Novo Nordisk during the fourth quarter worth about $201,000. Finally, Lakeview Capital Partners LLC acquired a new stake in Novo Nordisk during the fourth quarter worth about $204,000. Hedge funds and other institutional investors own 6.71% of the company’s stock.
Novo Nordisk stock opened at $48.68 on Thursday. Novo Nordisk has a 12-month low of $35.77 and a 12-month high of $58.37. The stock has a market cap of $120,001.66, a P/E ratio of 20.80, a PEG ratio of 2.51 and a beta of 0.67.
Novo Nordisk (NYSE:NVO) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.04). Novo Nordisk had a return on equity of 82.72% and a net margin of 34.09%. The firm had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.27 billion. analysts predict that Novo Nordisk will post 2.67 EPS for the current year.
Novo Nordisk announced that its board has initiated a stock buyback program on Thursday, February 1st that permits the company to buyback shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a special dividend, which was paid on Tuesday, April 3rd. Investors of record on Monday, March 26th were given a dividend of $0.8117 per share. This represents a yield of 0.96%. The ex-dividend date of this dividend was Friday, March 23rd. Novo Nordisk’s payout ratio is currently 38.89%.
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Novo Nordisk Company Profile
Novo Nordisk A/S, a healthcare company, engages in the discovery, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides insulins, GLP-1 and related delivery systems, and oral anti-diabetic drugs and obesity.
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