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

Key Points

• Traders purchased a significant volume of 65,836 call options for Novo Nordisk A/S, reflecting a 31% increase from the average volume.
• Institutional investments have surged, with Kingstone Capital Partners increasing its holdings by over 300,000% and several institutions acquiring positions worth hundreds of millions.
• Analyst ratings on Novo Nordisk A/S are mixed, with HSBC downgrading the stock while Wall Street Zen upgraded it from "hold" to "buy," highlighting the varying outlooks among analysts.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) was the recipient of unusually large options trading on Friday. Stock traders bought 65,836 call options on the stock. Thisisanincreaseof31% compared to the average volume of 50,247 call options.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of institutional investors and hedge funds have recently modified their holdings of NVO. Kingstone Capital Partners Texas LLC raised its position in shares of Novo Nordisk A/S by 301,443.6% during the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company's stock worth $690,560,000 after purchasing an additional 10,001,898 shares during the period. Nuveen LLC acquired a new position in Novo Nordisk A/S during the first quarter valued at $370,272,000. Nuveen Asset Management LLC raised its position in Novo Nordisk A/S by 73.2% during the fourth quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company's stock valued at $537,189,000 after buying an additional 2,639,693 shares during the period. Two Sigma Investments LP acquired a new position in Novo Nordisk A/S during the fourth quarter valued at $158,657,000. Finally, Amundi raised its position in Novo Nordisk A/S by 49.1% during the first quarter. Amundi now owns 4,938,507 shares of the company's stock valued at $331,576,000 after buying an additional 1,627,051 shares during the period. 11.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NVO has been the topic of several analyst reports. HSBC downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective on the stock. in a report on Thursday. Wall Street Zen upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. BMO Capital Markets restated a "market perform" rating and set a $64.00 price objective (down from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. BNP Paribas initiated coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They set an "underperform" rating on the stock. Finally, Barclays restated an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Novo Nordisk A/S currently has an average rating of "Hold" and a consensus price target of $93.67.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock traded up $0.84 during trading on Friday, hitting $47.91. The stock had a trading volume of 18,814,156 shares, compared to its average volume of 10,619,082. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.74 and a quick ratio of 0.56. The firm has a market cap of $213.93 billion, a P/E ratio of 14.21, a PEG ratio of 0.97 and a beta of 0.64. The business has a fifty day moving average of $69.64 and a two-hundred day moving average of $72.95. Novo Nordisk A/S has a fifty-two week low of $46.90 and a fifty-two week high of $139.74.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share 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 80.94% and a net margin of 34.52%. On average, sell-side analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.