Novartis AG (NVS) Given Buy Rating at Jefferies Group
Novartis AG (NYSE:NVS)‘s stock had its “buy” rating reaffirmed by equities researchers at Jefferies Group in a research report issued to clients and investors on Sunday.
NVS has been the topic of a number of other research reports. Zacks Investment Research lowered Novartis AG from a “hold” rating to a “sell” rating in a report on Wednesday, September 21st. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Novartis AG in a research report on Tuesday, September 13th. Argus reaffirmed a “hold” rating on shares of Novartis AG in a research report on Thursday, August 25th. Chardan Capital decreased their price target on Novartis AG from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, October 10th. Finally, Bank of America Corp. reaffirmed a “hold” rating on shares of Novartis AG in a research report on Tuesday, July 12th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $91.33.
Shares of Novartis AG (NYSE:NVS) opened at 76.09 on Friday. Novartis AG has a 1-year low of $69.90 and a 1-year high of $94.63. The company has a market capitalization of $181.19 billion, a P/E ratio of 27.17 and a beta of 0.57. The company has a 50-day moving average price of $79.33 and a 200 day moving average price of $78.96.
Novartis AG (NYSE:NVS) last posted its earnings results on Tuesday, July 19th. The company reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.05. Novartis AG had a return on equity of 15.33% and a net margin of 13.84%. The company had revenue of $12.47 billion for the quarter, compared to analyst estimates of $12.33 billion. During the same quarter last year, the company earned $1.25 earnings per share. Equities research analysts anticipate that Novartis AG will post $4.72 EPS for the current year.
Institutional investors have recently made changes to their positions in the stock. Advisor Consultant Network Inc. bought a new position in shares of Novartis AG during the third quarter valued at $5,955,000. Peddock Capital Advisors LLC bought a new position in shares of Novartis AG during the third quarter valued at $188,000. BTR Capital Management Inc. boosted its position in shares of Novartis AG by 1.7% in the third quarter. BTR Capital Management Inc. now owns 3,051 shares of the company’s stock valued at $241,000 after buying an additional 51 shares during the period. Union Bankshares Corp boosted its position in shares of Novartis AG by 3.5% in the third quarter. Union Bankshares Corp now owns 33,728 shares of the company’s stock valued at $2,663,000 after buying an additional 1,135 shares during the period. Finally, Private Trust Co. NA boosted its position in shares of Novartis AG by 7.5% in the third quarter. Private Trust Co. NA now owns 3,115 shares of the company’s stock valued at $245,000 after buying an additional 216 shares during the period. Institutional investors own 9.78% of the company’s stock.
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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