Novartis (NYSE:NVS) Sets New 12-Month High - Here's Why

Novartis AG (NYSE:NVS - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $120.92 and last traded at $120.66, with a volume of 389648 shares changing hands. The stock had previously closed at $118.07.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NVS. BNP Paribas upgraded Novartis to a "strong-buy" rating in a research report on Tuesday, April 15th. UBS Group restated a "neutral" rating on shares of Novartis in a report on Thursday, February 13th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $123.38.

Novartis Price Performance

The company has a market cap of $253.02 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 1.70 and a beta of 0.59. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.04 and a quick ratio of 0.84. The stock has a fifty day moving average price of $111.49 and a 200-day moving average price of $106.98.

Novartis (NYSE:NVS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.16. Novartis had a return on equity of 37.24% and a net margin of 23.56%. The business had revenue of $13.23 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same period last year, the company earned $1.80 earnings per share. Novartis's quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities analysts expect that Novartis AG will post 8.45 earnings per share for the current year.

Hedge Funds Weigh In On Novartis

Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in shares of Novartis by 35.6% in the fourth quarter. JPMorgan Chase & Co. now owns 423,142 shares of the company's stock valued at $41,176,000 after purchasing an additional 111,066 shares during the last quarter. Csenge Advisory Group increased its position in shares of Novartis by 63.5% during the 4th quarter. Csenge Advisory Group now owns 16,395 shares of the company's stock worth $1,595,000 after purchasing an additional 6,369 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Novartis by 129.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 98,412 shares of the company's stock valued at $9,560,000 after acquiring an additional 55,581 shares during the last quarter. Altrius Capital Management Inc boosted its stake in Novartis by 4.5% in the fourth quarter. Altrius Capital Management Inc now owns 77,783 shares of the company's stock worth $7,569,000 after purchasing an additional 3,345 shares in the last quarter. Finally, TigerOak Management L.L.C. acquired a new stake in Novartis in the 4th quarter valued at about $301,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Company Profile

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.