Novartis to Buy Cancer Diagnostic Specialist Genoptix for $470 Million (NVS)

Filed in dividend, Gold, Gold Bullion prices, o, shares by on January 24, 2011 0 Comments

Swiss healthcare products maker Novartis AG ( NVS ) on Monday said it would buy U.S.-based cancer diagnostic specialist Genoptix ( GXDX ) for $470 million in cash. The $25 per-share asking price represents a healthy 27% premium over Genoptix’ Friday closing price of $19.76. Genoptix said its board of directors is recommending current shareholders accept the offer. The move comes about six weeks after Novartis acquired the remaining stake in eye care company Alcon for $12.9 billion . Novartis shares rose 27 cents, or +0.5%, in premarket trading Monday. The Bottom Line Shares of Novartis ( NVS ) have a 3.03% dividend yield, based on Friday’s closing stock price of $56.42. The stock has technical support in the $52-$54 price area. If the shares can firm up, we see overhead resistance around the $60 price level. Novartis AG ( NVS ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Novartis to Buy Cancer Diagnostic Specialist Genoptix for $470 Million (NVS)

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