Novartis had its Relative Strength (RS) Rating upgraded from 70 to 75 Monday — a welcome improvement, but still short of the 80 or higher score CAN SLIM investors prefer to see.
The 75 RS Rating shows that Novartis tops 75% of all stocks for price performance this past year. IBD's unique RS Rating tracks market leadership by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Novartis Stock Among Top 12% Now
Decades of market research reveals that the top-performing stocks typically have an RS Rating of above 80 in the early stages of their moves. See if Novartis can continue to rebound and hit that benchmark.
Among its other ratings Novartis has a strong 88 Composite Rating, an 85 Earnings Per Share Rating and a B+ Earnings Per Share Rating, showing fairly heavy buying of its stock by institutional investors like mutual funds and ETFs.
When To Sell Stocks To Lock In Profits And Minimize Losses
Switzerland-based Novartis makes branded and generic drugs, as well as consumer health products, vaccines and diagnostic products.
Novartis is not currently near a potential buy area. See if the stock goes on to build a promising consolidation that could kick off a fresh price move. Monday afternoon Novartis traded just above 108.02, down a few pennies for the day.
Sales, Profits Both On The Rise
Top and bottom line growth moved higher in Novartis' most recent quarter. Earnings were up 17% to $1.80 per share, compared to 10% growth the prior report. Revenue increased 10% to $12.1 billion, up from 7% the quarter before. Keep an eye out for the company's next round of numbers on or around July 18.
Novartis earns the No. 2 rank among its peers in the Medical-Ethical Drugs industry group. Novo Nordisk is the No. 1-ranked stock in the group.
Please follow James DeTar on X, formerly known as Twitter, @JimDeTar
RELATED:
Biotech And Pharmaceutical Industry And Stock News
Which Stocks Are Showing Rising Relative Strength?
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
