Investors Purchase High Volume of Call Options on Novo Nordisk A/S (NYSE:NVO)

Novo Nordisk A/S (NYSE:NVO) was the target of unusually large options trading activity on Tuesday. Investors bought 38,912 call options on the stock. This represents an increase of approximately 45% compared to the average daily volume of 26,924 call options.

Institutional Trading of Novo Nordisk A/S

Several hedge funds have recently bought and sold shares of NVO. Hohimer Wealth Management LLC grew its stake in Novo Nordisk A/S by 3.5% during the third quarter. Hohimer Wealth Management LLC now owns 8,391 shares of the company’s stock valued at $999,000 after acquiring an additional 287 shares in the last quarter. Soltis Investment Advisors LLC purchased a new stake in Novo Nordisk A/S during the third quarter valued at $258,000. Sunbelt Securities Inc. grew its stake in shares of Novo Nordisk A/S by 17.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 12,586 shares of the company’s stock worth $1,499,000 after buying an additional 1,834 shares in the last quarter. Wilson & Boucher Capital Management LLC increased its holdings in shares of Novo Nordisk A/S by 0.3% in the 3rd quarter. Wilson & Boucher Capital Management LLC now owns 56,343 shares of the company’s stock worth $6,709,000 after buying an additional 155 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its position in shares of Novo Nordisk A/S by 8.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 22,364 shares of the company’s stock valued at $2,661,000 after buying an additional 1,831 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NVO shares. Cantor Fitzgerald reiterated 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 report on Friday, November 1st. Finally, BMO Capital Markets cut their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO opened at $102.65 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. Novo Nordisk A/S has a 12 month low of $94.73 and a 12 month high of $148.15. The company has a market cap of $460.62 billion, a price-to-earnings ratio of 33.22, a price-to-earnings-growth ratio of 1.31 and a beta of 0.42. The company has a 50-day moving average price of $117.40 and a 200-day moving average price of $129.27.

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.