Novartis AG (NVS) Sees Strong Trading Volume
Novartis AG (NYSE:NVS) shares saw strong trading volume on Thursday . 3,182,976 shares were traded during trading, an increase of 163% from the previous session’s volume of 1,210,165 shares.The stock last traded at $78.20 and had previously closed at $78.77.
NVS has been the topic of a number of analyst reports. Vetr upgraded shares of Novartis AG from a “buy” rating to a “strong-buy” rating and set a $85.00 price objective on the stock in a report on Wednesday, May 4th. Zacks Investment Research upgraded shares of Novartis AG from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th. Bank of America Corp. restated a “hold” rating on shares of Novartis AG in a report on Wednesday, May 18th. Citigroup Inc. restated a “neutral” rating on shares of Novartis AG in a report on Wednesday, May 18th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Novartis AG in a report on Tuesday, July 19th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $91.20.
The stock has a 50-day moving average of $81.80 and a 200 day moving average of $77.67. The firm has a market cap of $186.38 billion and a P/E ratio of 27.94.
Novartis AG (NYSE:NVS) last released its quarterly earnings data on Tuesday, July 19th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.05. The business had revenue of $12.47 billion for the quarter, compared to analysts’ expectations of $12.33 billion. During the same quarter in the prior year, the firm earned $1.25 earnings per share. On average, analysts anticipate that Novartis AG will post $4.73 earnings per share for the current fiscal year.
Novartis AG is a holding company. The Company specializes in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals, including eye care products. Its portfolio includes medicines, eye care and generic pharmaceuticals. The Company’s segments include Pharmaceuticals, Alcon and Sandoz.
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