Novartis AG (NYSE:NVS) has been assigned an average recommendation of “Hold” from the fourteen ratings firms that are currently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $90.94.
A number of analysts have weighed in on the company. Argus raised their price target on Novartis to $105.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. JPMorgan Chase & Co. reiterated a “sell” rating on shares of Novartis in a research report on Friday, July 5th. ValuEngine cut Novartis from a “hold” rating to a “sell” rating in a research report on Thursday, September 12th. Zacks Investment Research cut Novartis from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research report on Friday, July 19th. Finally, Kepler Capital Markets cut Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd.
Novartis stock traded up $0.77 during midday trading on Friday, reaching $87.12. The company’s stock had a trading volume of 129,637 shares, compared to its average volume of 1,559,485. Novartis has a fifty-two week low of $71.86 and a fifty-two week high of $95.00. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The company has a market cap of $198.11 billion, a P/E ratio of 17.13, a P/E/G ratio of 1.95 and a beta of 0.58. The business has a 50-day simple moving average of $89.45 and a 200-day simple moving average of $88.48.
Novartis (NYSE:NVS) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.14. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The company had revenue of $11.76 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same period last year, the firm earned $1.29 earnings per share. Novartis’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, equities analysts forecast that Novartis will post 5.15 earnings per share for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Primecap Management Co. CA increased its position in Novartis by 7.4% in the 2nd quarter. Primecap Management Co. CA now owns 25,617,640 shares of the company’s stock valued at $2,339,147,000 after acquiring an additional 1,760,424 shares during the period. Bank of America Corp DE increased its position in Novartis by 1.3% in the 2nd quarter. Bank of America Corp DE now owns 9,166,269 shares of the company’s stock valued at $836,972,000 after acquiring an additional 115,613 shares during the period. FMR LLC increased its position in Novartis by 23.7% in the 1st quarter. FMR LLC now owns 8,678,552 shares of the company’s stock valued at $834,356,000 after acquiring an additional 1,662,505 shares during the period. Fisher Asset Management LLC increased its position in Novartis by 3.1% in the 2nd quarter. Fisher Asset Management LLC now owns 8,067,235 shares of the company’s stock valued at $736,619,000 after acquiring an additional 244,544 shares during the period. Finally, Mawer Investment Management Ltd. increased its position in Novartis by 2.3% in the 2nd quarter. Mawer Investment Management Ltd. now owns 5,813,946 shares of the company’s stock valued at $530,871,000 after acquiring an additional 133,293 shares during the period. Institutional investors and hedge funds own 11.17% of the company’s stock.
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.
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