Novartis (NVS) Hits New 52-Week High at $92.41

Shares of Novartis AG (NYSE:NVS) reached a new 52-week high on Thursday . The company traded as high as $92.41 and last traded at $92.25, with a volume of 96572 shares trading hands. The stock had previously closed at $91.63.

A number of analysts recently weighed in on the stock. Barclays cut shares of Novartis from an “equal weight” rating to a “sell” rating in a research note on Friday, December 7th. Cowen upgraded shares of Novartis from a “market perform” rating to an “outperform” rating and set a $88.03 price target on the stock in a research report on Sunday, December 2nd. JPMorgan Chase & Co. restated a “sell” rating on shares of Novartis in a research report on Tuesday, January 29th. Zacks Investment Research upgraded shares of Novartis from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a research report on Tuesday, December 18th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $105.00 price target on shares of Novartis in a research report on Tuesday, December 11th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $90.94.

The stock has a market capitalization of $211.67 billion, a PE ratio of 18.08, a P/E/G ratio of 1.96 and a beta of 0.67. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.97 and a current ratio of 1.20.

Novartis (NYSE:NVS) last announced its earnings results on Wednesday, January 30th. The company reported $1.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.33 by ($0.09). Novartis had a return on equity of 15.66% and a net margin of 24.30%. The company had revenue of $13.27 billion for the quarter, compared to analyst estimates of $13.33 billion. During the same quarter in the previous year, the company posted $1.21 earnings per share. Novartis’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts expect that Novartis AG will post 5.42 EPS for the current fiscal year.

The business also recently announced an annual dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, March 5th were given a dividend of $2.8646 per share. This represents a dividend yield of 3.27%. This is a positive change from Novartis’s previous annual dividend of $2.33. The ex-dividend date of this dividend was Monday, March 4th. Novartis’s dividend payout ratio is presently 36.15%.

Several hedge funds have recently made changes to their positions in NVS. Perennial Advisors LLC raised its stake in shares of Novartis by 12.2% during the fourth quarter. Perennial Advisors LLC now owns 13,682 shares of the company’s stock worth $1,174,000 after buying an additional 1,485 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of Novartis by 41.8% during the third quarter. Raymond James Trust N.A. now owns 47,271 shares of the company’s stock worth $4,072,000 after buying an additional 13,938 shares during the last quarter. Ipswich Investment Management Co. Inc. raised its stake in shares of Novartis by 17.0% during the fourth quarter. Ipswich Investment Management Co. Inc. now owns 29,463 shares of the company’s stock worth $2,528,000 after buying an additional 4,278 shares during the last quarter. Blair William & Co. IL raised its stake in shares of Novartis by 0.8% during the third quarter. Blair William & Co. IL now owns 174,778 shares of the company’s stock worth $15,059,000 after buying an additional 1,463 shares during the last quarter. Finally, Patten & Patten Inc. TN raised its stake in shares of Novartis by 5.1% during the fourth quarter. Patten & Patten Inc. TN now owns 68,100 shares of the company’s stock worth $5,844,000 after buying an additional 3,310 shares during the last quarter. Institutional investors own 11.68% of the company’s stock.

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Novartis Company Profile (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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