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Chart of the Day: Novartis - Take Another Look
The Chart of the Day belongs to the Swiss pharmaceutical company Novartis (NVS) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 7/25 the stock gained 9.14%.
NVS Price vs Daily Moving Aerages (Barchart)
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. Novartis AG has a license and collaboration agreement with Alnylam Pharmaceuticals to develop, manufacture, and commercialize inclisiran, a therapy to reduce LDL cholesterol; and Dawn Health for the development and commercialization of Ekiva, a digital solution designed for people living with Paroxysmal Nocturnal Hemoglobinuria. The company was incorporated in 1996 and is headquartered in Basel, Switzerland.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Beyond Nasdaq…Monogram's new investment potential
Monogram (Nasdaq: MGRM), known for its autonomous robotic surgical systems, completed a crowd funded public offering and NASDAQ listing last year. What’s next?
They just filed for FDA approval to market and commercialize their patented AI joint replacement tech. By the year 2027, 50% of knee replacement surgeries will be robotic – up from 12% today.
Now, Monogram’s offering a new chance for investors: the opportunity to invest in preferred stock with an 8% dividend (in cash or kind). Their common shares closed as high as $3.41 in the past week, but the unlisted preferred stock (which is convertible into one share of common) is available for $2.25/share. Zacks recently said it feels MGRM is worth $6/share.
Monogram currently plans to close the Series D Preferred offering on September 12, 2024.
Disclosure:
* This is a paid advertisement for Monogram Technologies Series D Preferred Stock offering. A prospectus supplement and accompanying base prospectus have been filed with the SEC. Before making any investment, you are urged to read the prospectus supplement and accompanying base prospectus carefully for a more complete understanding of the issuer and the offering.
The securities offered by Monogram are highly speculative. Investing in these securities involves significant risks. The investment is suitable only for persons who can afford to lose their entire investment. Investors must understand that such investment could be illiquid for an indefinite period of time. There is no existing public trading market for the Series D Preferred Stock. Monogram does not intend to apply for listing of the Series D Preferred Stock or the common stock purchase warrants on a national securities exchange or quoted on an over the counter market.
DealMaker Securities LLC, a registered broker-dealer, and member of FINRA | SIPC, located at 105 Maxess Road, Suite 124, Melville, NY 11747, is the Intermediary for this offering and is not an affiliate of or connected with the Issuer. Please check our background on FINRA's BrokerCheck.
Barchart Technical Indicators:
- 100% technical buy signals
- 25.88+ Weighted Alpha
- .57 - 60 month Beta
- 17.24% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 15 new highs and up 8.76% in the last month
- Relative Strength Index 78.05%
- Technical support level at $119.54
- Recently traded at $119.98 with 50 day moving average of $110.86
Fundamental Factors:
- Market Cap $245 billion
- Revenue expected to grow 9.57% this year and another 4.80% next year
- Earnings estimated to increase 8.70% this year, an additional 10.70% next year and continue to compound at an annual rate of 7.60% for the next 5 years
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analyst gave 9 strong buy, 8 buy and 1 hold opinion on the stock
- Analysts' price targets are between $970 and $135 with a consensus of $116
- Value Line has price targets between $102 and $146 with a mid-point of $124
- CFRAs MarketScope rates the stock a hold with a price target of $113
- MorningStar rates the stock a below average 2 star rating with Fair Value at $105 or 14% over valued
- 80,610 investors monitor the stock on Seeking Alpha
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
