Novartis (NYSE:NVS) Sets New 52-Week High – Still a Buy?

by · The Cerbat Gem

Shares of Novartis AG (NYSE:NVS – Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $134.24 and last traded at $133.94, with a volume of 193670 shares changing hands. The stock had previously closed at $132.28.

Analyst Ratings Changes

NVS has been the topic of a number of recent analyst reports. Cowen reissued a “hold” rating on shares of Novartis in a report on Monday, November 10th. HC Wainwright cut shares of Novartis to a “neutral” rating in a research note on Monday, October 27th. Bank of America upgraded shares of Novartis from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a report on Wednesday, November 26th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $118.00 price objective (down previously from $119.00) on shares of Novartis in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $122.33.

Read Our Latest Stock Analysis on Novartis

Novartis Price Performance

The firm’s 50 day simple moving average is $128.61 and its two-hundred day simple moving average is $123.05. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.88 and a quick ratio of 0.68. The firm has a market capitalization of $282.69 billion, a P/E ratio of 18.28, a P/E/G ratio of 1.82 and a beta of 0.52.

Novartis (NYSE:NVS – Get Free Report) last released its quarterly earnings data on Tuesday, October 28th. The company reported $2.25 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.01). Novartis had a return on equity of 41.21% and a net margin of 26.49%.The company had revenue of $14.36 billion during the quarter, compared to analysts’ expectations of $13.70 billion. During the same quarter in the prior year, the firm posted $2.06 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, analysts predict that Novartis AG will post 8.45 earnings per share for the current year.

Institutional Investors Weigh In On Novartis

Institutional investors have recently added to or reduced their stakes in the company. South Plains Financial Inc. increased its position in shares of Novartis by 39.0% in the third quarter. South Plains Financial Inc. now owns 271 shares of the company’s stock valued at $35,000 after acquiring an additional 76 shares during the period. Blue Trust Inc. grew its stake in shares of Novartis by 1.7% in the third quarter. Blue Trust Inc. now owns 4,763 shares of the company’s stock worth $611,000 after purchasing an additional 78 shares during the last quarter. WealthPlan Investment Management LLC increased its holdings in Novartis by 0.9% during the 3rd quarter. WealthPlan Investment Management LLC now owns 9,394 shares of the company’s stock valued at $1,205,000 after purchasing an additional 80 shares during the period. Capital Advisors Inc. OK raised its position in Novartis by 4.3% during the 3rd quarter. Capital Advisors Inc. OK now owns 2,027 shares of the company’s stock valued at $260,000 after purchasing an additional 83 shares during the last quarter. Finally, Integrated Quantitative Investments LLC lifted its holdings in Novartis by 0.8% in the 3rd quarter. Integrated Quantitative Investments LLC now owns 10,627 shares of the company’s stock worth $1,363,000 after buying an additional 83 shares during the period. Hedge funds and other institutional investors own 13.12% of the company’s stock.

About Novartis

(Get Free Report)

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.

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