Novartis (NYSE:NVS) Reaches New 12-Month High – Here’s Why

Novartis AG (NYSE:NVS) reached a new 52-week high on Friday . The stock traded as high as $146.41 and last traded at $146.2560, with a volume of 441676 shares trading hands. The stock had previously closed at $145.00.

Wall Street Analysts Forecast Growth

NVS has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Novartis in a report on Monday, December 29th. Bank of America raised Novartis from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 25th. Wall Street Zen upgraded Novartis from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Barclays raised Novartis from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, January 6th. Finally, TD Cowen restated 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, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Novartis presently has a consensus rating of “Hold” and a consensus target price of $119.75.

Novartis Trading Up 1.5%

The firm has a market cap of $310.87 billion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 1.89 and a beta of 0.51. The business’s 50 day moving average is $135.90 and its 200-day moving average is $128.42. The company has a quick ratio of 0.68, a current ratio of 0.88 and a debt-to-equity ratio of 0.50.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.01). The company had revenue of $14.36 billion for the quarter, compared to the consensus estimate of $13.70 billion. Novartis had a net margin of 26.49% and a return on equity of 41.21%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.06 earnings per share. As a group, analysts forecast that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Institutional Trading of Novartis

Several hedge funds and other institutional investors have recently bought and sold shares of NVS. GFG Capital LLC acquired a new position in shares of Novartis in the 2nd quarter worth approximately $26,000. Legacy Investment Solutions LLC bought a new position in Novartis during the second quarter worth $30,000. Barrett & Company Inc. acquired a new position in Novartis in the second quarter worth $31,000. Valley Wealth Managers Inc. bought a new stake in Novartis during the third quarter valued at $31,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in Novartis during the third quarter valued at $33,000. 13.12% of the stock is owned by institutional investors.

About Novartis

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.