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

Novo Nordisk A/S (NYSE:NVO) saw some unusual options trading activity on Thursday. Stock traders acquired 77,823 put options on the company. This is an increase of approximately 131% compared to the typical volume of 33,745 put options.

Novo Nordisk A/S Trading Up 0.3 %

NYSE:NVO traded up $0.28 on Thursday, reaching $87.65. The company’s stock had a trading volume of 6,246,295 shares, compared to its average volume of 4,801,617. Novo Nordisk A/S has a 12-month low of $81.50 and a 12-month high of $148.15. The stock has a 50 day moving average price of $107.17 and a 200 day moving average price of $123.92. The firm has a market cap of $393.33 billion, a price-to-earnings ratio of 28.37, a price-to-earnings-growth ratio of 1.37 and a beta of 0.40. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43.

Wall Street Analyst Weigh In

NVO has been the topic of several research reports. Cantor Fitzgerald restated 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. BMO Capital Markets decreased 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. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 21st. Finally, BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Novo Nordisk A/S currently has an average rating of “Buy” and a consensus target price of $140.20.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NVO. American Trust boosted its holdings in Novo Nordisk A/S by 139.1% during the 3rd quarter. American Trust now owns 12,725 shares of the company’s stock valued at $1,515,000 after acquiring an additional 7,402 shares during the period. Tri Ri Asset Management Corp purchased a new stake in Novo Nordisk A/S during the 3rd quarter worth about $17,276,000. Peapack Gladstone Financial Corp raised its position in Novo Nordisk A/S by 17.2% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 28,156 shares of the company’s stock valued at $3,353,000 after purchasing an additional 4,122 shares in the last quarter. Synovus Financial Corp boosted its stake in shares of Novo Nordisk A/S by 5.2% in the 3rd quarter. Synovus Financial Corp now owns 54,697 shares of the company’s stock valued at $6,513,000 after buying an additional 2,684 shares during the period. Finally, Optimist Retirement Group LLC grew its position in shares of Novo Nordisk A/S by 4.3% during the third quarter. Optimist Retirement Group LLC now owns 2,747 shares of the company’s stock worth $327,000 after buying an additional 112 shares in the last quarter. Hedge funds and other institutional investors 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.