Novartis AG (NYSE:NVS) shares fell 0.7% during trading on Monday after Chardan Capital lowered their price target on the stock from $95.00 to $92.00. Chardan Capital currently has a buy rating on the stock. Novartis AG traded as low as $77.04 and last traded at $77.73, with a volume of 2,032,707 shares trading hands. The stock had previously closed at $78.29.

Other analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Novartis AG from a “sell” rating to a “hold” rating in a research report on Wednesday, June 15th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Novartis AG in a research report on Tuesday, July 19th. TheStreet downgraded shares of Novartis AG from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Bank of America Corp. reissued a “hold” rating on shares of Novartis AG in a research report on Tuesday, July 12th. Finally, Argus reissued a “hold” rating on shares of Novartis AG in a research report on Thursday, August 25th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $91.33.

Institutional investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. boosted its position in Novartis AG by 0.3% in the second quarter. Sunbelt Securities Inc. now owns 4,545 shares of the company’s stock valued at $375,000 after buying an additional 15 shares during the last quarter. Wealthsource Partners LLC boosted its position in Novartis AG by 1.3% in the second quarter. Wealthsource Partners LLC now owns 2,907 shares of the company’s stock valued at $240,000 after buying an additional 38 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in Novartis AG by 0.3% in the second quarter. Ameritas Investment Partners Inc. now owns 13,133 shares of the company’s stock valued at $1,083,000 after buying an additional 44 shares during the last quarter. Private Trust Co. NA boosted its position in Novartis AG by 1.7% in the second quarter. Private Trust Co. NA now owns 2,899 shares of the company’s stock valued at $239,000 after buying an additional 48 shares during the last quarter. Finally, Carroll Financial Associates Inc. boosted its position in Novartis AG by 1.1% in the second quarter. Carroll Financial Associates Inc. now owns 4,597 shares of the company’s stock valued at $379,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 9.78% of the company’s stock.

The company’s 50-day moving average is $79.90 and its 200-day moving average is $78.89. The company has a market capitalization of $185.03 billion, a PE ratio of 27.742 and a beta of 0.57.

Novartis AG (NYSE:NVS) last released its earnings results on Tuesday, July 19th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.05. Novartis AG had a net margin of 13.84% and a return on equity of 15.33%. The business earned $12.47 billion during the quarter, compared to analysts’ expectations of $12.33 billion. During the same period last year, the business earned $1.25 earnings per share. On average, equities analysts predict that Novartis AG will post $4.72 earnings per share for the current year.

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.

5 Day Chart for NYSE:NVS

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