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

Novo Nordisk A/S (NYSE:NVO) saw some unusual options trading on Wednesday. Investors bought 131,266 call options on the stock. This represents an increase of approximately 37% compared to the typical daily volume of 96,006 call options.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NVO. HSBC reissued a “hold” rating and issued a $54.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, December 10th. Argus reiterated a “hold” rating on shares of Novo Nordisk A/S in a research report on Monday, December 8th. Berenberg Bank raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Wednesday, September 17th. Rothschild & Co Redburn raised shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 16th. Finally, Zacks Research downgraded Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $53.33.

Hedge Funds Weigh In On Novo Nordisk A/S

Hedge funds have recently modified their holdings of the stock. True Wealth Design LLC grew its stake in shares of Novo Nordisk A/S by 209.8% during the third quarter. True Wealth Design LLC now owns 443 shares of the company’s stock valued at $25,000 after buying an additional 300 shares during the last quarter. Guerra Advisors Inc purchased a new position in Novo Nordisk A/S during the 3rd quarter valued at $25,000. Strengthening Families & Communities LLC bought a new position in Novo Nordisk A/S in the 3rd quarter valued at $30,000. NewSquare Capital LLC grew its position in Novo Nordisk A/S by 174.1% in the 2nd quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock valued at $31,000 after acquiring an additional 282 shares during the last quarter. Finally, Allianz SE increased its stake in Novo Nordisk A/S by 70.0% in the third quarter. Allianz SE now owns 578 shares of the company’s stock worth $32,000 after purchasing an additional 238 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NVO stock opened at $57.34 on Friday. Novo Nordisk A/S has a 12-month low of $43.08 and a 12-month high of $93.80. The stock’s 50 day simple moving average is $49.47 and its 200 day simple moving average is $55.47. The company has a current ratio of 0.78, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $256.02 billion, a PE ratio of 16.67 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.25. Novo Nordisk A/S had a return on equity of 73.50% and a net margin of 32.76%.The business had revenue of $11.79 billion for the quarter, compared to analysts’ expectations of $11.98 billion. As a group, research analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.