Novartis (NYSE:NVS) Sets New 1-Year High at $113.20

Shares of Novartis AG (NYSE:NVS) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $113.20 and last traded at $113.08, with a volume of 171106 shares traded. The stock had previously closed at $112.53.

Analyst Ratings Changes

A number of analysts have weighed in on NVS shares. BMO Capital Markets raised their target price on shares of Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group started coverage on Novartis in a research report on Thursday, May 30th. They set a “buy” rating and a $120.00 price objective on the stock. Jefferies Financial Group increased their target price on Novartis from $121.00 to $122.50 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Barclays upgraded Novartis to a “strong sell” rating in a report on Monday, June 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $118.13.

Novartis Stock Performance

The stock has a 50 day moving average of $108.33 and a 200 day moving average of $102.60. The company has a market capitalization of $231.89 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 1.64 and a beta of 0.57. The company has a quick ratio of 0.72, a current ratio of 0.93 and a debt-to-equity ratio of 0.47.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Thursday, July 18th. The company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. Novartis had a net margin of 33.76% and a return on equity of 34.56%. The firm had revenue of $12.87 billion for the quarter, compared to the consensus estimate of $12.24 billion. During the same quarter in the previous year, the company earned $1.83 EPS. As a group, analysts predict that Novartis AG will post 7.44 EPS for the current year.

Institutional Investors Weigh In On Novartis

Several large investors have recently added to or reduced their stakes in NVS. International Assets Investment Management LLC lifted its holdings in shares of Novartis by 6,599.3% in the 4th quarter. International Assets Investment Management LLC now owns 149,395 shares of the company’s stock worth $15,084,000 after purchasing an additional 147,165 shares in the last quarter. Koshinski Asset Management Inc. lifted its position in shares of Novartis by 20.7% during the fourth quarter. Koshinski Asset Management Inc. now owns 2,532 shares of the company’s stock valued at $256,000 after purchasing an additional 435 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Novartis in the 4th quarter valued at about $334,000. Waldron Private Wealth LLC boosted its stake in shares of Novartis by 6.4% in the 4th quarter. Waldron Private Wealth LLC now owns 2,210 shares of the company’s stock worth $223,000 after buying an additional 132 shares during the last quarter. Finally, Cullen Investment Group LTD. bought a new position in shares of Novartis in the fourth quarter valued at approximately $598,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Company Profile

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.