Novartis (NYSE:NVS) Sees Strong Trading Volume After Earnings Beat

Shares of Novartis AG (NYSE:NVS) saw unusually-strong trading volume on Friday following a stronger than expected earnings report. Approximately 1,710,355 shares traded hands during trading, a decline of 3% from the previous session’s volume of 1,760,931 shares.The stock last traded at $104.97 and had previously closed at $104.75.

The company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.80 by $0.18. Novartis had a net margin of 35.96% and a return on equity of 34.80%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NVS. HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. BMO Capital Markets raised their target price on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Finally, StockNews.com cut shares of Novartis from a “strong-buy” rating to a “buy” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $123.38.

Institutional Trading of Novartis

A number of large investors have recently made changes to their positions in the business. Steigerwald Gordon & Koch Inc. increased its holdings in shares of Novartis by 4.8% in the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock worth $241,000 after buying an additional 95 shares during the last quarter. Centaurus Financial Inc. grew its holdings in Novartis by 1.7% during the 3rd quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock valued at $659,000 after purchasing an additional 98 shares during the last quarter. FLC Capital Advisors grew its holdings in Novartis by 4.4% during the 3rd quarter. FLC Capital Advisors now owns 2,366 shares of the company’s stock valued at $272,000 after purchasing an additional 100 shares during the last quarter. Clear Harbor Asset Management LLC grew its holdings in Novartis by 2.3% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 4,423 shares of the company’s stock valued at $509,000 after purchasing an additional 100 shares during the last quarter. Finally, Allen Wealth Management LLC grew its holdings in Novartis by 1.8% during the 3rd quarter. Allen Wealth Management LLC now owns 5,788 shares of the company’s stock valued at $666,000 after purchasing an additional 100 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors.

Novartis Price Performance

The company has a market capitalization of $214.33 billion, a P/E ratio of 12.18, a P/E/G ratio of 1.49 and a beta of 0.57. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. The firm’s fifty day moving average is $100.09 and its 200 day moving average is $108.50.

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.