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NEW YORK ( TheStreet) -- Novartis (NYSE: NVS) hit a new 52-week high Tuesday as it is currently trading at $59.56, above its previous 52-week high of $59.55 with 2.3 million shares traded as of 2:30 p.m. ET. Average volume has been 1.9 million shares over the past 30 days. Novartis has a market cap of $142.83 billion and is part of the health care sector and drugs industry. Shares are up 2.6% year to date as of the close of trading on Monday. Novartis AG, through its subsidiaries, engages in the research, development, manufacture, and marketing of healthcare products worldwide. The company has a P/E ratio of 15.5, below the average drugs industry P/E ratio of 16.6 and below the S&P 500 P/E ratio of 17.7.