Novartis (NYSE:NVS) Sets New 52-Week Low at $78.90

Novartis AG (NYSE:NVSGet Rating) hit a new 52-week low on Wednesday . The company traded as low as $78.90 and last traded at $78.90, with a volume of 25 shares trading hands. The stock had previously closed at $79.58.

Analysts Set New Price Targets

A number of brokerages have weighed in on NVS. Morgan Stanley reduced their price objective on Novartis from CHF 97 to CHF 88 in a research note on Thursday, September 8th. Berenberg Bank lowered Novartis from a “buy” rating to a “hold” rating in a report on Wednesday, September 14th. Credit Suisse Group lowered Novartis from a “neutral” rating to an “underperform” rating in a report on Thursday, September 15th. Deutsche Bank Aktiengesellschaft dropped their target price on Novartis from CHF 80 to CHF 75 in a report on Wednesday, June 29th. Finally, Oppenheimer lowered Novartis from an “outperform” rating to a “market perform” rating in a report on Friday, June 3rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $87.00.

Novartis Price Performance

The company has a quick ratio of 1.13, a current ratio of 1.38 and a debt-to-equity ratio of 0.35. The company has a market cap of $170.68 billion, a price-to-earnings ratio of 7.54, a price-to-earnings-growth ratio of 2.25 and a beta of 0.53. The company has a fifty day simple moving average of $83.51 and a two-hundred day simple moving average of $85.71.

Novartis (NYSE:NVSGet Rating) last posted its earnings results on Tuesday, July 19th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.05. The company had revenue of $12.78 billion for the quarter, compared to analyst estimates of $12.78 billion. Novartis had a return on equity of 21.88% and a net margin of 44.31%. Novartis’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.64 earnings per share. On average, equities research analysts anticipate that Novartis AG will post 6.06 earnings per share for the current fiscal year.

Institutional Trading of Novartis

Institutional investors and hedge funds have recently made changes to their positions in the stock. TCI Wealth Advisors Inc. lifted its position in shares of Novartis by 200.0% in the second quarter. TCI Wealth Advisors Inc. now owns 300 shares of the company’s stock valued at $25,000 after acquiring an additional 200 shares in the last quarter. Carolinas Wealth Consulting LLC lifted its position in shares of Novartis by 146.7% in the second quarter. Carolinas Wealth Consulting LLC now owns 370 shares of the company’s stock valued at $31,000 after acquiring an additional 220 shares in the last quarter. Atwood & Palmer Inc. lifted its position in shares of Novartis by 400.0% in the first quarter. Atwood & Palmer Inc. now owns 375 shares of the company’s stock valued at $33,000 after acquiring an additional 300 shares in the last quarter. DeDora Capital Inc. purchased a new stake in shares of Novartis in the first quarter valued at $34,000. Finally, Bogart Wealth LLC lifted its position in shares of Novartis by 168.8% in the second quarter. Bogart Wealth LLC now owns 414 shares of the company’s stock valued at $35,000 after acquiring an additional 260 shares in the last quarter. 9.14% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Company Profile

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Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products.

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