Novartis to sell cancer imaging business (NYSE:NVS)
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 24 2024
0mins
Source: SeekingAlpha
Siemens Healthineers Acquisition: Siemens Healthineers is set to acquire Novartis' Advanced Accelerator Applications (AAA) diagnostic arm for over €200M, aiming to enhance its PET radiopharma business in Europe by bringing radioactive compound manufacturing closer to patients.
Transaction Timeline and Background: The deal, which follows Novartis' $3.9B acquisition of a French cancer specialist, is expected to close in Q4 2024, pending regulatory reviews and discussions with Novartis’ works council.
Analyst Views on NVS
Wall Street analysts forecast NVS stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for NVS is 127.75 USD with a low forecast of 112.00 USD and a high forecast of 143.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
1 Buy
4 Hold
1 Sell
Hold
Current: 145.000
Low
112.00
Averages
127.75
High
143.00
Current: 145.000
Low
112.00
Averages
127.75
High
143.00
About NVS
Novartis AG is a Switzerland-based pharmaceutical company. The Company develops, manufactures, and markets branded and generic prescription drugs, active pharmaceutical ingredients (APIs), biosimilars and ophthalmic products. The Company uses science and digital technologies for treatments in the disease areas of immunology, dermatology, cancer, ophthalmology, neuroscience, respiratory, cardiovascular, renal and metabolism. The business activities of the Company are divided into two segments: Innovative Medicines, which includes innovative patent-protected prescription medicines for blood pressure, cancer and other ailments, and Sandoz, which includes generic pharmaceuticals and biosimilars.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
