Novartis AG (NVS) Receives $88.50 Average PT from Analysts
Shares of Novartis AG (NYSE:NVS) have earned a consensus recommendation of “Hold” from the seventeen ratings firms that are currently covering the company. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $88.50.
A number of research analysts have recently commented on the company. TheStreet lowered Novartis AG from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Societe Generale restated a “hold” rating on shares of Novartis AG in a research note on Thursday, October 27th. JPMorgan Chase & Co. restated a “buy” rating on shares of Novartis AG in a research note on Monday, October 10th. Argus restated a “hold” rating on shares of Novartis AG in a research note on Thursday, August 25th. Finally, Chardan Capital initiated coverage on Novartis AG in a research note on Tuesday, September 20th. They set a “buy” rating and a $95.00 target price for the company.
Novartis AG (NYSE:NVS) opened at 70.64 on Wednesday. The company’s 50-day moving average price is $74.53 and its 200-day moving average price is $78.57. The company has a market capitalization of $167.81 billion, a P/E ratio of 24.91 and a beta of 0.71. Novartis AG has a 52 week low of $69.84 and a 52 week high of $89.15.
Novartis AG (NYSE:NVS) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.04. The business had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.24 billion. Novartis AG had a return on equity of 15.25% and a net margin of 13.98%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.27 EPS. On average, equities analysts forecast that Novartis AG will post $4.72 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Integrated Investment Consultants LLC increased its position in Novartis AG by 6.3% in the second quarter. Integrated Investment Consultants LLC now owns 1,240 shares of the company’s stock valued at $102,000 after buying an additional 74 shares during the period. Whitnell & Co. increased its position in Novartis AG by 14.6% in the second quarter. Whitnell & Co. now owns 1,410 shares of the company’s stock valued at $116,000 after buying an additional 180 shares during the period. Iowa State Bank bought a new position in Novartis AG during the second quarter valued at approximately $122,000. M&R Capital Management Inc. bought a new position in Novartis AG during the second quarter valued at approximately $122,000. Finally, WFG Advisors LP increased its position in Novartis AG by 8.9% in the second quarter. WFG Advisors LP now owns 1,624 shares of the company’s stock valued at $134,000 after buying an additional 133 shares during the period. Institutional investors and hedge funds own 9.80% of the company’s stock.
About Novartis AG
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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