Novartis (NYSE:NVS) PT Raised to $116.00 at BMO Capital Markets

Novartis (NYSE:NVS) had its price target upped by BMO Capital Markets from $114.00 to $116.00 in a report published on Wednesday, Benzinga reports. The firm currently has a market perform rating on the stock.

Separately, Morgan Stanley began coverage on Novartis in a research report on Tuesday, January 23rd. They set an equal weight rating and a $114.00 price objective for the company.

Novartis Stock Performance

NVS opened at $97.44 on Wednesday. The company has a market cap of $199.17 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 1.57 and a beta of 0.54. The stock has a 50-day moving average of $97.87 and a 200-day moving average of $98.99. Novartis has a 52-week low of $92.19 and a 52-week high of $108.78. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.93 and a current ratio of 0.90.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Tuesday, January 30th. The company reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.11). Novartis had a return on equity of 32.15% and a net margin of 31.33%. The business had revenue of $11.42 billion for the quarter, compared to analyst estimates of $11.69 billion. During the same period in the prior year, the firm posted $1.51 EPS. As a group, equities research analysts forecast that Novartis will post 7.22 earnings per share for the current fiscal year.

Novartis Increases Dividend

The company also recently declared an annual dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, March 8th were issued a $3.7772 dividend. This is a boost from Novartis’s previous annual dividend of $3.47. The ex-dividend date was Thursday, March 7th. This represents a yield of 3.1%. Novartis’s dividend payout ratio is 32.79%.

Hedge Funds Weigh In On Novartis

Large investors have recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC raised its holdings in Novartis by 21.6% in the 4th quarter. Aaron Wealth Advisors LLC now owns 5,904 shares of the company’s stock valued at $596,000 after acquiring an additional 1,050 shares in the last quarter. Syon Capital LLC acquired a new position in Novartis in the 3rd quarter valued at approximately $6,568,000. Prime Capital Investment Advisors LLC raised its holdings in Novartis by 368.3% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 20,251 shares of the company’s stock valued at $2,045,000 after acquiring an additional 15,927 shares in the last quarter. Cerity Partners LLC raised its holdings in Novartis by 30.8% in the 4th quarter. Cerity Partners LLC now owns 247,801 shares of the company’s stock valued at $25,021,000 after acquiring an additional 58,395 shares in the last quarter. Finally, Mather Group LLC. raised its holdings in Novartis by 8.1% in the 3rd quarter. Mather Group LLC. now owns 7,763 shares of the company’s stock valued at $791,000 after acquiring an additional 580 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

About Novartis

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.