Novo Nordisk A/S Sees Unusually High Options Volume (NVO)

Novo Nordisk A/S (NYSE:NVO) was the target of unusually large options trading on Monday. Investors bought 1,686 put options on the company. This is an increase of 1,353% compared to the typical daily volume of 116 put options.

In related news, insider Eric S. Sprott purchased 50,000 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were acquired at an average cost of $8.34 per share, with a total value of $417,000.00.

Hedge funds have recently modified their holdings of the company. Proficio Capital Partners LLC grew its position in shares of Novo Nordisk A/S by 6.1% in the 2nd quarter. Proficio Capital Partners LLC now owns 2,622 shares of the company’s stock worth $111,000 after buying an additional 150 shares during the last quarter. AlphaMark Advisors LLC grew its position in shares of Novo Nordisk A/S by 1.1% in the 2nd quarter. AlphaMark Advisors LLC now owns 2,645 shares of the company’s stock worth $113,000 after buying an additional 30 shares during the last quarter. MUFG Americas Holdings Corp grew its position in shares of Novo Nordisk A/S by 100.0% in the 2nd quarter. MUFG Americas Holdings Corp now owns 3,000 shares of the company’s stock worth $129,000 after buying an additional 1,500 shares during the last quarter. Zions Bancorporation grew its position in shares of Novo Nordisk A/S by 677.1% in the 3rd quarter. Zions Bancorporation now owns 2,852 shares of the company’s stock worth $137,000 after buying an additional 2,485 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Novo Nordisk A/S by 44.4% in the 2nd quarter. Parallel Advisors LLC now owns 4,108 shares of the company’s stock worth $174,000 after buying an additional 1,264 shares during the last quarter. Hedge funds and other institutional investors own 6.18% of the company’s stock.

A number of brokerages have commented on NVO. Bank of America raised Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Wednesday. Morgan Stanley raised Novo Nordisk A/S from an “equal weight” rating to an “overweight” rating in a research note on Friday, December 1st. Zacks Investment Research cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. BNP Paribas cut Novo Nordisk A/S from an “outperform” rating to a “neutral” rating in a research note on Monday, September 25th. Finally, BidaskClub raised Novo Nordisk A/S from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $55.00.

Shares of Novo Nordisk A/S (NVO) opened at $52.07 on Thursday. The firm has a market capitalization of $130,152.00, a P/E ratio of 22.29, a PEG ratio of 3.05 and a beta of 0.63. Novo Nordisk A/S has a 1 year low of $32.83 and a 1 year high of $52.45.

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Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company’s diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.

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