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

Novo Nordisk A/S (NYSE:NVO) was the target of unusually large options trading activity on Thursday. Investors purchased 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 hedge funds and other institutional investors have recently bought and sold shares of NVO. Advisor OS LLC boosted its position in shares of Novo Nordisk A/S by 0.6% in the second quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock worth $1,994,000 after acquiring an additional 82 shares during the last quarter. Cascade Financial Partners LLC increased its holdings in shares of Novo Nordisk A/S by 2.3% during the 2nd quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock worth $543,000 after buying an additional 84 shares during the last quarter. Novare Capital Management LLC raised its position in shares of Novo Nordisk A/S by 3.2% in the 3rd quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock worth $325,000 after buying an additional 85 shares during the period. Steel Grove Capital Advisors LLC boosted its holdings in Novo Nordisk A/S by 2.3% in the second quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock valued at $541,000 after acquiring an additional 86 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its position in Novo Nordisk A/S by 2.6% during the second quarter. Benjamin Edwards Inc. now owns 3,455 shares of the company’s stock valued at $493,000 after acquiring an additional 87 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Down 0.3 %

Shares of NYSE:NVO opened at $87.37 on Friday. The firm has a 50 day simple moving average of $105.94 and a 200-day simple moving average of $123.28. Novo Nordisk A/S has a twelve month low of $81.50 and a twelve month high of $148.15. 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 $392.08 billion, a PE ratio of 28.28, a P/E/G ratio of 1.37 and a beta of 0.40.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NVO shares. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 21st. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Finally, BMO Capital Markets decreased their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $140.20.

Novo Nordisk A/S Company Profile

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.