Novartis (NYSE:NVS) Sets New 52-Week High – Still a Buy?

Shares of Novartis AG (NYSE:NVS) hit a new 52-week high on Thursday . The stock traded as high as $133.69 and last traded at $133.49, with a volume of 462951 shares traded. The stock had previously closed at $132.29.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Novartis in a research report on Friday, October 31st. Morgan Stanley raised Novartis from an “equal weight” rating to an “overweight” rating in a research report on Friday, October 31st. Cowen reissued a “hold” rating on shares of Novartis in a report on Monday. Cfra Research raised Novartis to a “hold” rating in a research report on Wednesday, October 29th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Novartis in a report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Novartis has an average rating of “Hold” and an average target price of $122.33.

Novartis Price Performance

The company has a quick ratio of 0.62, a current ratio of 0.88 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average price of $127.47 and a 200 day moving average price of $121.12. The stock has a market cap of $282.97 billion, a P/E ratio of 18.26, a P/E/G ratio of 1.93 and a beta of 0.60.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.01). The firm had revenue of $13.91 billion for the quarter, compared to the consensus estimate of $13.70 billion. Novartis had a net margin of 26.49% and a return on equity of 41.21%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.06 EPS. On average, analysts forecast that Novartis AG will post 8.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Novartis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVS. Goldman Sachs Group Inc. raised its stake in Novartis by 60.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,660,485 shares of the company’s stock worth $408,071,000 after acquiring an additional 1,377,252 shares during the last quarter. New Vernon Capital Holdings II LLC boosted its position in Novartis by 12,664.1% in the first quarter. New Vernon Capital Holdings II LLC now owns 1,383,244 shares of the company’s stock valued at $154,204,000 after buying an additional 1,372,407 shares during the last quarter. Bank of Montreal Can increased its holdings in Novartis by 85.0% in the 3rd quarter. Bank of Montreal Can now owns 1,045,191 shares of the company’s stock worth $134,035,000 after buying an additional 480,201 shares during the period. Dimensional Fund Advisors LP raised its position in Novartis by 5.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,606,724 shares of the company’s stock worth $959,535,000 after buying an additional 422,869 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Novartis by 5.3% during the 2nd quarter. Fisher Asset Management LLC now owns 7,121,414 shares of the company’s stock valued at $861,762,000 after acquiring an additional 358,282 shares during the period. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

About Novartis

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.