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

Novo Nordisk A/S (NYSE:NVO) was the target of unusually large options trading on Tuesday. Traders purchased 36,744 call options on the company. This is an increase of approximately 45% compared to the typical daily volume of 25,394 call options.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NVO. Argus increased their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday, June 17th. The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective for the company. Finally, BMO Capital Markets restated an “outperform” rating and set a $163.00 price objective on shares of Novo Nordisk A/S in a research note on Tuesday. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $145.67.

Institutional Trading of Novo Nordisk A/S

Several institutional investors have recently bought and sold shares of the business. Morgan Stanley lifted its position in Novo Nordisk A/S by 96.5% during the third quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock worth $838,021,000 after buying an additional 4,526,199 shares in the last quarter. Folketrygdfondet lifted its position in Novo Nordisk A/S by 1.4% during the first quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock worth $1,124,275,000 after buying an additional 124,770 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Novo Nordisk A/S by 10.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after buying an additional 823,036 shares in the last quarter. Capital International Investors lifted its position in Novo Nordisk A/S by 22.3% during the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after buying an additional 1,297,536 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in Novo Nordisk A/S by 109.2% during the third quarter. Royal Bank of Canada now owns 3,643,061 shares of the company’s stock worth $331,300,000 after buying an additional 1,901,429 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Down 2.2 %

Novo Nordisk A/S stock opened at $143.69 on Thursday. The firm has a market cap of $644.81 billion, a price-to-earnings ratio of 49.55, a price-to-earnings-growth ratio of 1.46 and a beta of 0.41. Novo Nordisk A/S has a 52 week low of $75.56 and a 52 week high of $148.15. The business’s 50-day moving average price is $133.78 and its 200 day moving average price is $122.73. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.77 by $0.06. The firm had revenue of $9.52 billion for the quarter, compared to analyst estimates of $9.23 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 3.41 earnings per share for the current year.

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.