Novartis AG (NVS) Shares Gap Down to $78.27
Novartis AG (NYSE:NVS) gapped down prior to trading on Monday . The stock had previously closed at $77.68, but opened at $78.27. Novartis AG shares last traded at $79.38, with a volume of 1,352,900 shares changing hands.
Several research firms have weighed in on NVS. Zacks Investment Research raised shares of Novartis AG from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research note on Monday, July 11th. Citigroup Inc. reaffirmed a “neutral” rating on shares of Novartis AG in a research note on Wednesday, May 18th. TheStreet raised shares of Novartis AG from a “hold” rating to a “buy” rating in a research note on Friday, June 24th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Novartis AG in a research note on Thursday, May 26th. Finally, Bank of America Corp. reaffirmed a “hold” rating on shares of Novartis AG in a research note on Tuesday, July 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $91.20.
The firm has a 50-day moving average of $81.72 and a 200-day moving average of $77.68. The stock has a market cap of $189.02 billion and a price-to-earnings ratio of 28.34.
Novartis AG (NYSE:NVS) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.05. The firm had revenue of $12.47 billion for the quarter, compared to analysts’ expectations of $12.33 billion. During the same period in the previous year, the company earned $1.25 EPS. On average, equities analysts predict that Novartis AG will post $4.73 EPS for the current 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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