Novartis (NYSE:NVS) Shares Gap Down to $89.62

Novartis AG (NYSE:NVS)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $91.55, but opened at $89.62. Novartis shares last traded at $88.54, with a volume of 2,149,761 shares traded.

A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of Novartis from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research report on Friday, July 19th. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Novartis in a research report on Friday, July 5th. Kepler Capital Markets downgraded Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Argus raised their price objective on Novartis to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Novartis in a research report on Thursday, August 29th. Four analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Novartis currently has an average rating of “Hold” and a consensus price target of $90.63.

The company has a market capitalization of $205.82 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 2.03 and a beta of 0.58. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.74 and a current ratio of 0.94. The business’s 50 day moving average is $90.36 and its 200 day moving average is $88.65.



Novartis (NYSE:NVS) last issued its quarterly earnings results on Thursday, July 18th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.14. Novartis had a net margin of 23.27% and a return on equity of 18.55%. The business had revenue of $11.76 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same quarter in the prior year, the business posted $1.29 EPS. Novartis’s revenue for the quarter was up 3.7% compared to the same quarter last year. Sell-side analysts predict that Novartis AG will post 5.15 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Elefante Mark B increased its stake in shares of Novartis by 3.6% in the second quarter. Elefante Mark B now owns 8,744 shares of the company’s stock worth $799,000 after acquiring an additional 300 shares during the period. Capital Advisors Ltd. LLC grew its position in Novartis by 119.0% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,084 shares of the company’s stock worth $99,000 after purchasing an additional 589 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Novartis by 16.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,566 shares of the company’s stock valued at $143,000 after buying an additional 220 shares during the last quarter. Crawford Investment Counsel Inc. raised its stake in shares of Novartis by 8.9% during the 1st quarter. Crawford Investment Counsel Inc. now owns 2,581 shares of the company’s stock valued at $248,000 after buying an additional 212 shares during the last quarter. Finally, Penbrook Management LLC lifted its holdings in shares of Novartis by 18.2% in the 2nd quarter. Penbrook Management LLC now owns 6,500 shares of the company’s stock valued at $594,000 after buying an additional 1,000 shares during the period. 11.21% of the stock is currently owned by hedge funds and other institutional investors.

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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