Novartis AG (NVS) Given Average Rating of “Hold” by Brokerages
Shares of Novartis AG (NYSE:NVS) have been given an average recommendation of “Hold” by the twenty research firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $83.32.
NVS has been the topic of several analyst reports. Vetr lowered shares of Novartis AG from a “buy” rating to a “hold” rating and set a $78.32 price target on the stock. in a research report on Tuesday, April 25th. Zacks Investment Research raised shares of Novartis AG from a “strong sell” rating to a “hold” rating in a research report on Monday, May 1st. UBS AG reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Wednesday, May 24th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Friday, June 2nd. Finally, Morgan Stanley reaffirmed a “sell” rating on shares of Novartis AG in a research report on Tuesday, June 6th.
Shares of Novartis AG (NYSE NVS) traded down 0.28% during trading on Wednesday, hitting $83.28. The company had a trading volume of 1,114,954 shares. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90. The firm’s 50 day moving average is $83.91 and its 200-day moving average is $79.33. The stock has a market capitalization of $195.12 billion, a P/E ratio of 30.41 and a beta of 0.73.
Novartis AG (NYSE:NVS) last released its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.06. The firm had revenue of $12.24 billion for the quarter, compared to analyst estimates of $12.20 billion. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.23 EPS. Equities research analysts anticipate that Novartis AG will post $4.74 EPS for the current fiscal year.
In related news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were acquired at an average price of $15.00 per share, with a total value of $4,000,005.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.01% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of NVS. Parnassus Investments CA raised its stake in Novartis AG by 89.4% in the first quarter. Parnassus Investments CA now owns 8,173,974 shares of the company’s stock worth $593,720,000 after buying an additional 3,858,632 shares in the last quarter. BlackRock Inc. bought a new stake in Novartis AG during the first quarter worth $210,378,000. Janus Henderson Group PLC raised its stake in Novartis AG by 42,797.5% in the second quarter. Janus Henderson Group PLC now owns 1,914,516 shares of the company’s stock worth $159,821,000 after buying an additional 1,910,053 shares in the last quarter. Janus Capital Management LLC raised its stake in Novartis AG by 34,406.2% in the first quarter. Janus Capital Management LLC now owns 1,759,816 shares of the company’s stock worth $130,696,000 after buying an additional 1,754,716 shares in the last quarter. Finally, FMR LLC raised its stake in Novartis AG by 172.1% in the second quarter. FMR LLC now owns 2,294,782 shares of the company’s stock worth $191,546,000 after buying an additional 1,451,441 shares in the last quarter. 11.16% of the stock is currently owned by institutional investors and hedge funds.
About Novartis AG
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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