Novo Nordisk A/S Target of Unusually Large Options Trading (NYSE:NVO)

Novo Nordisk A/S (NYSE:NVO - Get Free Report) saw some unusual options trading on Thursday. Stock traders bought 71,466 put options on the stock. This represents an increase of 73% compared to the typical volume of 41,422 put options.

Novo Nordisk A/S Stock Up 2.6%

NYSE NVO traded up $1.66 during trading on Thursday, reaching $66.07. 9,045,244 shares of the company's stock were exchanged, compared to its average volume of 6,487,339. The firm has a market capitalization of $296.49 billion, a PE ratio of 20.08, a P/E/G ratio of 0.90 and a beta of 0.65. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. Novo Nordisk A/S has a fifty-two week low of $57.00 and a fifty-two week high of $148.15. The company's fifty day simple moving average is $67.84 and its 200-day simple moving average is $85.23.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. The business had revenue of $11.87 billion during the quarter. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. Sell-side analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its position in Novo Nordisk A/S by 8.1% in the 4th quarter. Bank of America Corp DE now owns 15,492,384 shares of the company's stock worth $1,332,655,000 after buying an additional 1,165,955 shares during the period. GQG Partners LLC boosted its stake in Novo Nordisk A/S by 74.7% in the 4th quarter. GQG Partners LLC now owns 12,994,533 shares of the company's stock valued at $1,117,790,000 after buying an additional 5,556,460 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in Novo Nordisk A/S by 34.2% in the 4th quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company's stock valued at $995,397,000 after buying an additional 2,947,771 shares in the last quarter. Folketrygdfondet boosted its stake in Novo Nordisk A/S by 6.9% in the first quarter. Folketrygdfondet now owns 9,521,912 shares of the company's stock worth $661,202,000 after purchasing an additional 617,974 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Novo Nordisk A/S by 1.5% in the fourth quarter. Renaissance Technologies LLC now owns 8,312,996 shares of the company's stock worth $715,084,000 after purchasing an additional 123,681 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

NVO has been the topic of several research analyst reports. StockNews.com upgraded Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 25th. Morgan Stanley assumed coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They set an "equal weight" rating on the stock. BMO Capital Markets reaffirmed a "market perform" rating and set a $64.00 target price (down from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Stifel Nicolaus lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Hsbc Global Res raised Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, April 28th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Novo Nordisk A/S presently has an average rating of "Moderate Buy" and a consensus target price of $135.00.

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.

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