Novartis (NVS) Shares Gap Up to $87.52

Shares of Novartis AG (NYSE:NVS) gapped up before the market opened on Tuesday . The stock had previously closed at $88.55, but opened at $87.52. Novartis shares last traded at $87.35, with a volume of 62430 shares traded.

Several analysts have recently weighed in on the company. Morgan Stanley downgraded Novartis from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $82.50 to $82.52 in a research report on Wednesday, April 10th. Guggenheim upgraded shares of Novartis from a “neutral” rating to a “buy” rating and set a $79.16 target price for the company in a report on Wednesday, April 24th. Liberum Capital upgraded shares of Novartis from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Finally, Zacks Investment Research downgraded shares of Novartis from a “hold” rating to a “strong sell” rating in a report on Thursday, April 11th. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $87.57.

The stock has a market cap of $198.22 billion, a P/E ratio of 16.86, a P/E/G ratio of 2.09 and a beta of 0.66. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.93 and a quick ratio of 0.83.

Novartis (NYSE:NVS) last issued its earnings results on Wednesday, April 24th. The company reported $1.21 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.10. The firm had revenue of $11.11 billion for the quarter, compared to analyst estimates of $11.76 billion. Novartis had a return on equity of 16.75% and a net margin of 24.55%. Novartis’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.28 earnings per share. As a group, analysts expect that Novartis AG will post 5 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Truvestments Capital LLC purchased a new stake in Novartis in the first quarter valued at approximately $25,000. Canton Hathaway LLC acquired a new position in Novartis in the first quarter valued at approximately $26,000. Harvest Group Wealth Management LLC acquired a new position in Novartis in the first quarter valued at approximately $27,000. Moneta Group Investment Advisors LLC acquired a new position in Novartis in the first quarter valued at approximately $26,000. Finally, Financial Gravity Wealth Inc. acquired a new position in Novartis in the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 11.82% of the company’s stock.

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About Novartis (NYSE:NVS)

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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