Traders Buy High Volume of Novo Nordisk A/S Call Options (NYSE:NVO)

Novo Nordisk A/S (NYSE:NVO) was the recipient of unusually large options trading on Tuesday. Stock investors purchased 38,912 call options on the stock. This is an increase of 45% compared to the average daily volume of 26,924 call options.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Finally, BMO Capital Markets decreased their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Stock Up 2.5 %

NYSE NVO traded up $2.49 on Tuesday, reaching $102.30. The stock had a trading volume of 4,202,128 shares, compared to its average volume of 4,475,606. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $459.07 billion, a price-to-earnings ratio of 32.30, a P/E/G ratio of 1.31 and a beta of 0.42. The business has a 50 day moving average price of $117.94 and a 200 day moving average price of $129.42. Novo Nordisk A/S has a 1 year low of $94.73 and a 1 year high of $148.15.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of large investors have recently added to or reduced their stakes in the stock. Natixis Advisors LLC raised its holdings in Novo Nordisk A/S by 2.7% in the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after acquiring an additional 80,070 shares during the period. Zions Bancorporation N.A. grew its holdings in shares of Novo Nordisk A/S by 57.0% in the 3rd quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company’s stock worth $2,207,000 after purchasing an additional 6,726 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Novo Nordisk A/S by 14.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock valued at $34,463,000 after acquiring an additional 37,346 shares during the last quarter. Private Wealth Partners LLC boosted its position in shares of Novo Nordisk A/S by 155.1% during the third quarter. Private Wealth Partners LLC now owns 33,203 shares of the company’s stock worth $3,953,000 after purchasing an additional 20,188 shares in the last quarter. Finally, Buckingham Capital Management Inc. bought a new position in Novo Nordisk A/S during the 3rd quarter worth about $3,874,000. Institutional investors own 11.54% of the company’s stock.

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.