Novartis AG (NYSE:NVS) shares, rose in value on Friday, May 26, with the stock price up by 0.77% to the previous day’s close as strong demand from buyers drove the stock to $98.53.
Actively observing the price movement in the recent trading, the stock is buoying the session at $97.78, falling within a range of $97.35 and $98.66. The value of beta (5-year monthly) is 0.47 whereas the PE ratio is 30.10 over 12-month period. Referring to stock’s 52-week performance, its high was $105.56, and the low was $74.09. On the whole, NVS has fluctuated by -4.01% over the past month.
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The company’s Forward Dividend Ratio is 3.50, with its dividend yield at 3.58%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1.66, which is expected to increase to $1.75 for fiscal year $6.76 and then to about $7.31 by fiscal year 2024. Data indicates that the EPS growth is expected to be 10.50% in 2024, while the next year’s EPS growth is forecast to be 8.10%.
Analysts have estimated the company’s revenue for the quarter at $13.16 billion, with a low estimate of $12.7 billion and a high estimate of $13.5 billion. According to the average forecast, sales growth in current quarter could jump up 2.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $53.21 billion, representing an increase of 5.30% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that NVS’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
22 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 9 analyst(s), 8 recommend it as a Buy and 1 called the NVS stock Overweight. In the meantime, 1 analyst(s) believe the stock as Underweight and 3 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Hold.
The stock’s technical analysis shows that the PEG ratio is about 3.82, with the price of NVS currently trading nearly -3.84% and 1.62% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 40.68, while the 7-day volatility ratio is showing 1.11% which for the 30-day chart, stands at 1.04%. Furthermore, Novartis AG (NVS)’s beta value is 0.54, and its average true range (ATR) is 1.30. The company’s stock has been forecasted to trade at an average price of $110.07 over the course of the next 52 weeks, with a low of $89.27 and a high of $123.75. Based on these price targets, the low is 9.4% off current price, whereas the price has to move -25.6% to reach the yearly target high. Additionally, analysts’ median price of $108.81 is likely to be welcomed by investors because it represents a decrease of -10.43% from the current levels.
A comparison of Novartis AG (NVS) with its peers suggests the former has fared considerably weaker in the market. NVS showed an intraday change of 0.77% in today’s session so far, and over the past year, it grew by 7.98%%. In comparison, Johnson & Johnson (JNJ) has moved higher at 0.19% today and is down -13.87% over the past 12 months. On the other hand, the price of Sanofi (SNY) has risen 0.65% today. The stock, however, is off -4.72% from where it was a year ago. Additionally, there is a loss of -0.36% for Bristol-Myers Squibb Company (BMY) in recent trading while the stock has seen an overall depriciation of -16.72%% over the past year. The PE ratio stands at 30.10 for Novartis AG, compared to 32.30 for Johnson & Johnson, and 14.69 for Sanofi. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 1.12%. Meanwhile, the Dow Jones Industrial Improved by 1.08%.
Data on historical trading for Novartis AG (NYSE:NVS) indicates that the trading volumes over the past 10 days have averaged 1.97 million and over the past 3 months, they’ve averaged 2.12 million. According to company’s latest data on outstanding shares, there are 2.11 billion shares outstanding.
Nearly 9.30% of Novartis AG’s shares belong to company insiders and institutional investors own 8.50% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.78 million shares as on Apr 27, 2023, resulting in a short ratio of 2.17. According to the data, the short interest in Novartis AG (NVS) stood at 0.23% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 6.33 million. The stock has risen by 8.61% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NVS stock heading into the next quarter.