Novartis (NYSE:NVS) Sets New 52-Week High – Time to Buy?

by · The Cerbat Gem

Novartis AG (NYSE:NVS – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $134.62 and last traded at $134.6560, with a volume of 151667 shares changing hands. The stock had previously closed at $132.57.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. HSBC reaffirmed a “reduce” rating and issued a $112.00 target price on shares of Novartis in a research report on Wednesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a report on Monday, December 8th. The Goldman Sachs Group reissued a “sell” rating and set a $118.00 target price (down from $119.00) on shares of Novartis in a research note on Friday, September 12th. Wall Street Zen upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research note on Friday, November 28th. Finally, Cowen reaffirmed a “hold” rating on shares of Novartis in a report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $119.75.

Check Out Our Latest Analysis on Novartis

Novartis Stock Performance

The stock has a market cap of $284.32 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 1.87 and a beta of 0.52. The company’s 50 day simple moving average is $129.41 and its 200 day simple moving average is $124.15. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.68 and a current ratio of 0.88.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. South Plains Financial Inc. lifted its holdings in Novartis by 39.0% in the 3rd 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 last quarter. Blue Trust Inc. raised its holdings in shares of Novartis by 1.7% in the 3rd quarter. Blue Trust Inc. now owns 4,763 shares of the company’s stock worth $611,000 after purchasing an additional 78 shares in the last quarter. WealthPlan Investment Management LLC lifted its stake in Novartis by 0.9% during the third 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 last quarter. Capital Advisors Inc. OK boosted its holdings in Novartis by 4.3% during the third quarter. Capital Advisors Inc. OK now owns 2,027 shares of the company’s stock worth $260,000 after buying an additional 83 shares in the last quarter. Finally, Integrated Quantitative Investments LLC grew its position in Novartis by 0.8% in the third 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 last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Company Profile

(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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