Novartis (NYSE:NVS) Shares Pass Above Two Hundred Day Moving Average of $89.34

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Novartis AG (NYSE:NVS)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $89.34 and traded as high as $93.25. Novartis shares last traded at $93.10, with a volume of 1,075,132 shares traded.

A number of equities analysts have recently commented on NVS shares. ValuEngine raised shares of Novartis from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Novartis in a research report on Thursday, August 29th. Finally, Cowen reissued a “buy” rating and set a $100.00 price objective on shares of Novartis in a report on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $93.34.

The company has a market capitalization of $213.23 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 2.07 and a beta of 0.60. The company’s fifty day moving average is $89.87 and its 200-day moving average is $89.34. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.95 and a quick ratio of 0.73.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.10. The company had revenue of $12.17 billion for the quarter, compared to analyst estimates of $11.67 billion. Novartis had a net margin of 24.43% and a return on equity of 20.86%. Novartis’s revenue was up 10.5% compared to the same quarter last year. During the same period last year, the company posted $1.32 earnings per share. Equities research analysts forecast that Novartis AG will post 5.22 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. Resources Management Corp CT ADV purchased a new position in Novartis during the third quarter valued at approximately $137,000. Princeton Global Asset Management LLC grew its holdings in Novartis by 4.4% in the third quarter. Princeton Global Asset Management LLC now owns 11,537 shares of the company’s stock worth $993,000 after purchasing an additional 484 shares during the last quarter. Partner Investment Management L.P. purchased a new position in Novartis in the third quarter worth $927,000. Voloridge Investment Management LLC grew its holdings in Novartis by 1,256.9% in the third quarter. Voloridge Investment Management LLC now owns 179,525 shares of the company’s stock worth $15,601,000 after purchasing an additional 166,294 shares during the last quarter. Finally, IHT Wealth Management LLC grew its holdings in Novartis by 22.3% in the third quarter. IHT Wealth Management LLC now owns 4,296 shares of the company’s stock worth $373,000 after purchasing an additional 782 shares during the last quarter. 10.63% of the stock is currently owned by institutional investors.

About Novartis (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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