Novartis AG (NYSE:NVS) was upgraded by Argus from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage presently has a $85.00 target price on the stock. Argus’ price objective would indicate a potential upside of 15.66% from the stock’s previous close.

Several other equities research analysts have also issued reports on NVS. TheStreet lowered shares of Novartis AG from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Societe Generale reaffirmed a “hold” rating on shares of Novartis AG in a research note on Thursday, October 27th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Novartis AG in a research note on Monday, October 10th. Chardan Capital began coverage on shares of Novartis AG in a research note on Tuesday, September 20th. They issued a “buy” rating and a $95.00 price target on the stock. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Novartis AG in a research note on Sunday, October 16th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Novartis AG presently has a consensus rating of “Hold” and a consensus price target of $88.50.

Analyst Recommendations for Novartis AG (NYSE:NVS)

Novartis AG (NYSE:NVS) opened at 73.49 on Thursday. Novartis AG has a 52 week low of $69.84 and a 52 week high of $89.15. The company has a market cap of $174.58 billion, a P/E ratio of 25.91 and a beta of 0.71. The stock has a 50 day moving average of $75.52 and a 200 day moving average of $78.70.

Novartis AG (NYSE:NVS) last released its earnings results on Tuesday, October 25th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.04. The firm earned $12.13 billion during the quarter, compared to analyst estimates of $12.24 billion. Novartis AG had a net margin of 13.98% and a return on equity of 15.25%. The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the business earned $1.27 EPS. On average, analysts expect that Novartis AG will post $4.72 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of NVS. UBS Asset Management Americas Inc. raised its position 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 valued at $5,534,000 after buying an additional 49,415 shares during the period. Wellington Management Group LLP raised its position in Novartis AG by 28.7% in the first quarter. Wellington Management Group LLP now owns 144,330 shares of the company’s stock valued at $10,455,000 after buying an additional 32,150 shares during the period. Silvercrest Asset Management Group LLC raised its position in Novartis AG by 26.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 13,675 shares of the company’s stock valued at $991,000 after buying an additional 2,875 shares during the period. Natixis raised its position in Novartis AG by 160.1% in the first quarter. Natixis now owns 6,497 shares of the company’s stock valued at $471,000 after buying an additional 3,999 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Novartis AG during the first quarter valued at $350,000. 9.80% of the stock is owned by hedge funds and other 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.

5 Day Chart for NYSE:NVS

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