Novartis AG (NVS) Shares Gap Down to $79.94
Novartis AG (NYSE:NVS) gapped down before the market opened on Tuesday . The stock had previously closed at $79.17, but opened at $79.94. Novartis AG shares last traded at $81.13, with a volume of 836,897 shares.
NVS has been the topic of a number of recent analyst reports. Citigroup Inc. restated a “neutral” rating on shares of Novartis AG in a research note on Tuesday, May 24th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Novartis AG in a report on Thursday, May 26th. Zacks Investment Research raised shares of Novartis AG from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th. TheStreet raised shares of Novartis AG from a “hold” rating to a “buy” rating in a report on Friday, June 24th. Finally, Bank of America Corp. reaffirmed a “hold” rating on shares of Novartis AG in a report on Tuesday, July 12th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $91.83.
The company has a market capitalization of $193.02 billion, a P/E ratio of 28.94 and a beta of 0.58. The stock has a 50 day moving average price of $80.80 and a 200 day moving average price of $78.33.
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Novartis AG (NYSE:NVS) last issued 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 firm earned $12.47 billion during the quarter, compared to analysts’ expectations of $12.33 billion. Novartis AG had a return on equity of 15.33% and a net margin of 13.84%. During the same period in the previous year, the firm posted $1.25 earnings per share. Analysts anticipate that Novartis AG will post $4.73 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its position in Novartis AG by 3.8% in the second quarter. Macquarie Group Ltd. now owns 1,495,947 shares of the company’s stock worth $123,431,000 after buying an additional 54,614 shares during the period. Williams Jones & Associates LLC boosted its position in Novartis AG by 28.3% in the second quarter. Williams Jones & Associates LLC now owns 7,610 shares of the company’s stock worth $628,000 after buying an additional 1,680 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Novartis AG by 7.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 36,451 shares of the company’s stock worth $3,008,000 after buying an additional 2,424 shares during the period. CAPROCK Group Inc. boosted its position in Novartis AG by 6.8% in the second quarter. CAPROCK Group Inc. now owns 21,060 shares of the company’s stock worth $1,738,000 after buying an additional 1,337 shares during the period. Finally, Royal Bank of Canada boosted its position in Novartis AG by 8.0% in the second quarter. Royal Bank of Canada now owns 1,155,783 shares of the company’s stock worth $95,365,000 after buying an additional 85,210 shares during the period. 9.78% of the stock is owned by institutional investors.
Novartis AG Company Profile
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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