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

Novo Nordisk A/S (NYSE:NVO) was the target of some unusual options trading activity on Thursday. Stock investors purchased 77,823 put options on the stock. This represents an increase of approximately 131% compared to the average daily volume of 33,745 put options.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $87.65 on Friday. The business’s 50-day moving average price is $106.55 and its 200 day moving average price is $123.67. 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 P/E ratio of 28.37, a P/E/G ratio of 1.37 and a beta of 0.40. Novo Nordisk A/S has a 52-week low of $81.50 and a 52-week high of $148.15.

Wall Street Analyst Weigh In

A number of research firms recently commented on NVO. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 21st. BMO Capital Markets decreased their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday. Finally, BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. One 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 data from MarketBeat, the company has an average rating of “Buy” and an average price target of $140.20.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL purchased a new position in Novo Nordisk A/S in the 2nd quarter valued at $25,000. Daiwa Securities Group Inc. acquired a new position in shares of Novo Nordisk A/S during the third quarter worth about $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 in the last quarter. Capital Performance Advisors LLP acquired a new stake in Novo Nordisk A/S in the third quarter valued at about $42,000. Finally, Carolina Wealth Advisors LLC purchased a new stake in Novo Nordisk A/S in the 3rd quarter valued at approximately $48,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

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.