Novartis AG (NYSE:NVS) Stock Now Rated “Hold” by Sell-Side Brokerages

Novartis AG (NYSE:NVS) has earned an average recommendation of “Hold” from the twenty brokerages that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $145.60.

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Novartis in a report on Sunday, August 9th. Morgan Stanley reiterated an “overweight” rating and set a $156.00 price target on shares of Novartis in a research report on Tuesday, October 6th. HSBC raised shares of Novartis from a “reduce” rating to a “hold” rating and lifted their price objective for the company from $123.00 to $136.00 in a research note on Thursday, September 10th. UBS Group restated a “neutral” rating on shares of Novartis in a research report on Thursday, September 17th. Finally, Jefferies Financial Group restated a “neutral” rating on shares of Novartis in a research report on Thursday, July 23rd.

Novartis Stock Performance

NVS opened at $143.67 on Wednesday. The firm has a market cap of $274.14 billion, a P/E ratio of 21.67, a price-to-earnings-growth ratio of 2.74 and a beta of 0.41. Novartis has a 52-week low of $121.57 and a 52-week high of $170.46. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.67 and a current ratio of 0.86. The business’s fifty day moving average is $149.11 and its 200-day moving average is $150.56.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $2.41 earnings per share for the quarter. Novartis had a net margin of 23.29% and a return on equity of 38.56%. The business had revenue of $14.95 billion during the quarter. Sell-side analysts expect that Novartis will post 8.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Novartis

A number of institutional investors have recently modified their holdings of the business. Bank of America Corp DE raised its stake in shares of Novartis by 9.1% during the 1st quarter. Bank of America Corp DE now owns 4,962,794 shares of the company’s stock worth $758,067,000 after purchasing an additional 413,778 shares during the period. Auto Owners Insurance Co grew its position in Novartis by 13,687.0% during the fourth quarter. Auto Owners Insurance Co now owns 4,628,296 shares of the company’s stock valued at $638,103,000 after buying an additional 4,594,726 shares during the period. Franklin Resources Inc. increased its holdings in Novartis by 10.3% during the fourth quarter. Franklin Resources Inc. now owns 4,479,307 shares of the company’s stock worth $617,562,000 after buying an additional 419,988 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Novartis by 0.8% during the second quarter. Envestnet Asset Management Inc. now owns 2,330,979 shares of the company’s stock worth $365,308,000 after buying an additional 19,595 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in Novartis by 1.9% in the first quarter. Janus Henderson Group PLC now owns 2,275,938 shares of the company’s stock worth $347,649,000 after acquiring an additional 41,520 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

About Novartis

Novartis AG is a Switzerland-based pharmaceutical company focused on the discovery, development and commercialization of innovative medicines. The company’s research and commercial activities center on cardiovascular, renal and metabolic diseases, immunology, neuroscience, oncology and hematology. Its portfolio includes prescription medicines such as Entresto, Cosentyx, Kesimpta, Kisqali, Pluvicto, Leqvio and Jakavi, as well as other therapies for serious and chronic conditions.

Novartis serves patients and healthcare providers in markets worldwide, with operations spanning North America, Europe, Asia and other international regions.