Novartis AG (NVS) Sees Unusually-High Trading Volume
Novartis AG (NYSE:NVS) saw strong trading volume on Thursday . 3,182,976 shares changed hands 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.
A number of research analysts have recently commented on the company. Bank of America Corp. reaffirmed a “hold” rating on shares of Novartis AG in a research report on Wednesday, May 18th. Jefferies Group reaffirmed a “buy” rating on shares of Novartis AG in a research report on Friday, May 13th. Citigroup Inc. reissued a “neutral” rating on shares of Novartis AG in a report on Tuesday, May 24th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Novartis AG in a report on Thursday, May 26th. Finally, Zacks Investment Research raised Novartis AG from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a report on Monday, July 11th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $91.20.
The firm has a market cap of $189.02 billion and a price-to-earnings ratio of 28.34. The firm has a 50-day moving average price of $81.72 and a 200 day moving average price of $77.68.
Novartis AG (NYSE:NVS) last posted its earnings results on Tuesday, July 19th. The company reported $1.23 EPS for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.05. The business earned $12.47 billion during the quarter, compared to the consensus estimate of $12.33 billion. During the same period in the previous year, the business posted $1.25 EPS. Equities research analysts predict 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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