Novartis (NVS) Shares Gap Down to $81.70

Novartis (NYSE:NVS) gapped down prior to trading on Thursday . The stock had previously closed at $83.64, but opened at $81.70. Novartis shares last traded at $79.00, with a volume of 5933035 shares.

A number of equities research analysts have recently commented on the company. JPMorgan Chase reissued a “neutral” rating on shares of Novartis in a research note on Monday, April 9th. Deutsche Bank reissued a “neutral” rating on shares of Novartis in a research note on Tuesday, April 10th. UBS reissued a “neutral” rating on shares of Novartis in a research note on Monday, January 15th. Zacks Investment Research cut Novartis from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, Nord/LB reissued a “neutral” rating on shares of Novartis in a research note on Wednesday, December 27th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Novartis currently has a consensus rating of “Hold” and an average price target of $87.51.

The company has a market capitalization of $183,079.03, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 1.79 and a beta of 0.74. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 0.31.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Thursday, April 19th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.03. The firm had revenue of $12.69 billion for the quarter, compared to the consensus estimate of $12.45 billion. Novartis had a return on equity of 16.18% and a net margin of 16.04%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.13 earnings per share. analysts anticipate that Novartis will post 5.28 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in NVS. Garland Capital Management Inc. lifted its holdings in Novartis by 1.0% in the fourth quarter. Garland Capital Management Inc. now owns 52,233 shares of the company’s stock valued at $4,385,000 after acquiring an additional 535 shares during the period. Tradition Capital Management LLC lifted its holdings in Novartis by 0.9% in the fourth quarter. Tradition Capital Management LLC now owns 69,381 shares of the company’s stock valued at $5,825,000 after acquiring an additional 652 shares during the period. Commerce Bank lifted its holdings in Novartis by 2.4% in the fourth quarter. Commerce Bank now owns 28,004 shares of the company’s stock valued at $2,352,000 after acquiring an additional 664 shares during the period. West Oak Capital LLC lifted its holdings in Novartis by 4.4% in the fourth quarter. West Oak Capital LLC now owns 15,860 shares of the company’s stock valued at $1,332,000 after acquiring an additional 665 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in Novartis by 1.6% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 45,425 shares of the company’s stock valued at $3,814,000 after acquiring an additional 716 shares during the period. 10.76% of the stock is currently owned by hedge funds and other institutional investors.

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Novartis Company Profile

Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.

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