Novartis (NYSE:NVS) Stock Price Breaks Above 200-Day Moving Average - Here's What Happened

Key Points

• Novartis shares rose 1.9% and broke above their 200-day moving average of $151.40, reaching $154.24 during Monday trading.
• Analyst sentiment remains mixed: six analysts rate the stock Buy, 11 Hold, and two Sell, resulting in an overall “Hold” rating and a consensus price target of $145.60.
• Institutional ownership stands at 13.12%, with several investors increasing their Novartis positions during the third quarter.

Shares of Novartis AG (NYSE:NVS - Get Free Report) crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $151.40 and traded as high as $154.24. Novartis shares last traded at $153.9290, with a volume of 2,816,193 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NVS shares. Royal Bank Of Canada started coverage on shares of Novartis in a research note on Tuesday, September 8th. They issued a "sector perform" rating for the company. Deutsche Bank Aktiengesellschaft reissued a "neutral" rating on shares of Novartis in a research note on Thursday, September 17th. Weiss Ratings restated a "buy (b)" rating on shares of Novartis in a report on Thursday. The Goldman Sachs Group reaffirmed a "sell" rating on shares of Novartis in a research note on Monday, September 21st. Finally, UBS Group reaffirmed a "neutral" rating on shares of Novartis in a research note on Thursday, September 17th. Six investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $145.60.

Novartis Stock Up 1.9%

The company has a market cap of $293.72 billion, a P/E ratio of 23.22, a P/E/G ratio of 2.74 and a beta of 0.41. The company's 50-day moving average is $148.13 and its two-hundred day moving average is $151.40. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.86 and a quick ratio of 0.67.

Institutional Trading of Novartis

Several institutional investors have recently added to or reduced their stakes in the business. Oakworth Capital Inc. raised its holdings in shares of Novartis by 3.1% during the third quarter. Oakworth Capital Inc. now owns 2,408 shares of the company's stock valued at $343,000 after purchasing an additional 73 shares during the last quarter. Independence Bank of Kentucky lifted its position in Novartis by 2.4% during the third quarter. Independence Bank of Kentucky now owns 8,068 shares of the company's stock valued at $1,150,000 after purchasing an additional 186 shares during the period. Ashton Thomas Securities LLC bought a new position in Novartis during the third quarter valued at approximately $1,214,000. Park Avenue Securities LLC lifted its position in Novartis by 13.3% during the third quarter. Park Avenue Securities LLC now owns 49,735 shares of the company's stock valued at $7,091,000 after purchasing an additional 5,820 shares during the period. Finally, apricus wealth LLC boosted its holdings in Novartis by 4.4% in the third quarter. apricus wealth LLC now owns 25,943 shares of the company's stock worth $3,699,000 after purchasing an additional 1,105 shares during the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Company Profile

Novartis AG is a Switzerland-based pharmaceutical company focused on the discovery, development and commercialization of innovative medicines. The company's research and commercial activities span areas including cardiovascular, renal and metabolic diseases, immunology, neuroscience, oncology and hematology. Its portfolio includes prescription medicines such as Entresto, Cosentyx, Kisqali, Kesimpta, Leqvio, Pluvicto and Scemblix.

Novartis serves patients and healthcare providers in markets around the world.

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