Novartis AG (NVS) Price Target Cut to $92.00
Novartis AG (NYSE:NVS) had its price target reduced by equities researchers at Chardan Capital from $95.00 to $92.00 in a report released on Monday. The brokerage presently has a “buy” rating on the stock. Chardan Capital’s target price points to a potential upside of 17.51% from the stock’s current price.
Several other equities analysts have also recently weighed in on NVS. Zacks Investment Research upgraded Novartis AG from a “sell” rating to a “hold” rating in a research report on Wednesday, June 15th. TheStreet upgraded Novartis AG from a “hold” rating to a “buy” rating in a research report on Friday, June 24th. Bank of America Corp. reiterated a “hold” rating on shares of Novartis AG in a research report on Tuesday, July 12th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Novartis AG in a research report on Wednesday, July 13th. Finally, Argus reiterated a “hold” rating on shares of Novartis AG in a research report on Thursday, August 25th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $91.33.
Novartis AG (NYSE:NVS) opened at 78.29 on Monday. The firm has a 50-day moving average price of $79.90 and a 200 day moving average price of $78.89. The company has a market capitalization of $186.43 billion, a P/E ratio of 27.95 and a beta of 0.57. Novartis AG has a 52-week low of $69.90 and a 52-week high of $95.11.
Novartis AG (NYSE:NVS) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.05. The company earned $12.47 billion during the quarter, compared to analysts’ expectations of $12.33 billion. Novartis AG had a return on equity of 15.33% and a net margin of 13.84%. During the same period in the previous year, the business earned $1.25 earnings per share. On average, analysts predict that Novartis AG will post $4.72 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd bought a new stake in Novartis AG during the first quarter worth $11,550,000. UBS Asset Management Americas Inc. raised its stake in Novartis AG by 183.1% in the first quarter. UBS Asset Management Americas Inc. now owns 76,397 shares of the company’s stock worth $5,534,000 after buying an additional 49,415 shares during the period. Primecap Management Co. CA raised its stake in Novartis AG by 0.8% in the first quarter. Primecap Management Co. CA now owns 20,938,858 shares of the company’s stock worth $1,516,811,000 after buying an additional 170,750 shares during the period. Bank of Nova Scotia Trust Co. bought a new stake in Novartis AG during the first quarter worth $2,290,000. Finally, Scotia Capital Inc. raised its stake in Novartis AG by 57.0% in the first quarter. Scotia Capital Inc. now owns 41,118 shares of the company’s stock worth $2,980,000 after buying an additional 14,924 shares during the period. 9.78% of the stock is owned by institutional investors.
Novartis AG Company Profile
Novartis AG is a holding company. The Company specializes in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals, including eye care products. Its portfolio includes medicines, eye care and generic pharmaceuticals. The Company’s segments include Pharmaceuticals, Alcon and Sandoz.
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