Novartis (NYSE:NVS) Sets New 1-Year High – Here’s What Happened

Novartis AG (NYSE:NVS) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $167.89 and last traded at $167.3980, with a volume of 348072 shares trading hands. The stock had previously closed at $167.11.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citigroup reaffirmed a “buy” rating on shares of Novartis in a research note on Thursday, February 5th. TD Cowen reaffirmed a “hold” rating on shares of Novartis in a research report on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Novartis in a research report on Thursday, February 12th. HSBC restated a “reduce” rating and issued a $112.00 price objective on shares of Novartis in a report on Wednesday, December 10th. Finally, Wall Street Zen lowered Novartis from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Novartis currently has an average rating of “Hold” and a consensus target price of $119.75.

Novartis Stock Up 0.1%

The company has a current ratio of 1.12, a quick ratio of 0.89 and a debt-to-equity ratio of 0.60. The firm’s 50 day moving average price is $148.02 and its two-hundred day moving average price is $134.92. The company has a market capitalization of $353.52 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 2.52 and a beta of 0.50.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. The business had revenue of $13.86 billion during the quarter, compared to analysts’ expectations of $13.85 billion. Novartis had a return on equity of 40.53% and a net margin of 25.65%.Novartis’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company posted $1.98 earnings per share. Sell-side analysts anticipate that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Novartis Dividend Announcement

The firm also recently announced an annual dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, March 11th will be issued a dividend of $4.773 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a dividend yield of 312.0%. Novartis’s payout ratio is presently 36.31%.

Hedge Funds Weigh In On Novartis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arlington Trust Co LLC acquired a new stake in shares of Novartis during the 4th quarter worth about $25,000. CrossGen Wealth LLC bought a new position in Novartis in the 4th quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new stake in Novartis during the second quarter worth approximately $30,000. Valley Wealth Managers Inc. bought a new stake in shares of Novartis during the third quarter worth approximately $31,000. Finally, Bank of Jackson Hole Trust grew its position in shares of Novartis by 425.0% in the fourth quarter. Bank of Jackson Hole Trust now owns 231 shares of the company’s stock valued at $32,000 after purchasing an additional 187 shares during the last quarter. 13.12% of the stock is owned by institutional investors.

Novartis Company Profile

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.