Novo Nordisk A/S Sees Unusually Large Options Volume (NYSE:NVO)

Novo Nordisk A/S (NYSE:NVO) was the recipient of unusually large options trading activity on Thursday. Stock investors bought 77,823 put options on the company. This represents an increase of approximately 131% compared to the typical volume of 33,745 put options.

Institutional Investors Weigh In On Novo Nordisk A/S

Several large investors have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Novo Nordisk A/S during the 2nd quarter worth $25,000. Daiwa Securities Group Inc. acquired a new stake in shares of Novo Nordisk A/S in the 3rd quarter worth approximately $28,000. Abound Wealth Management raised its holdings in Novo Nordisk A/S by 257.4% during the second quarter. Abound Wealth Management now owns 218 shares of the company’s stock worth $31,000 after purchasing an additional 157 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Novo Nordisk A/S in the third quarter valued at $42,000. Finally, Carolina Wealth Advisors LLC purchased a new stake in shares of Novo Nordisk A/S in the 3rd quarter worth about $48,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

NVO has been the topic of a number of research analyst reports. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. BMO Capital Markets cut their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 21st. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Novo Nordisk A/S has an average rating of “Buy” and a consensus price target of $140.20.

Novo Nordisk A/S Stock Performance

NVO stock traded up $0.28 during trading on Thursday, hitting $87.65. The company had a trading volume of 6,246,295 shares, compared to its average volume of 4,801,617. The firm has a 50-day moving average price of $107.17 and a 200-day moving average price of $123.92. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The firm has a market cap of $393.33 billion, a PE ratio of 28.37, a price-to-earnings-growth ratio of 1.37 and a beta of 0.40. Novo Nordisk A/S has a 1-year low of $81.50 and a 1-year high of $148.15.

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.