Novartis Hits New 52-Week High at $81.88 (NVS)
Shares of Novartis (NYSE:NVS) hit a new 52-week high during mid-day trading on Thursday, American Banking News reports. The stock traded as high as $81.88 and last traded at $81.79, with a volume of 1,083,839 shares trading hands. The stock had previously closed at $80.84.
A number of analysts have recently weighed in on NVS shares. Analysts at UBS AG initiated coverage on shares of Novartis in a research note to investors on Thursday, January 9th. They set a “buy” rating on the stock. Separately, analysts at Jefferies Group downgraded shares of Novartis from a “buy” rating to a “hold” rating in a research note to investors on Thursday, January 9th. Finally, analysts at Natixis upgraded shares of Novartis from a “neutral” rating to a “buy” rating in a research note to investors on Monday, November 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $82.33.
Novartis has a 1-year low of $64.65 and a 1-year high of $81.37. The stock’s 50-day moving average is $78.89 and its 200-day moving average is $76.02. The company has a market cap of $199.2 billion and a P/E ratio of 21.32.
Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.26 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.31 by $0.05. The company had revenue of $14.34 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter last year, the company posted $1.34 earnings per share. Novartis’s revenue was up 3.8% compared to the same quarter last year. Analysts expect that Novartis will post $5.14 EPS for the current fiscal year.
Novartis AG is a Switzerland-based holding that, through its subsidiaries, is engaged in the research, development, manufacture and marketing of healthcare products.
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