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.

TRADEMARK VIOLATION WARNING: This piece was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another site, it was illegally copied and republished in violation of US & international copyright law. The legal version of this piece can be read at https://www.thecerbatgem.com/2017/08/23/novartis-ag-nvs-given-average-rating-of-hold-by-brokerages.html.

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.

Analyst Recommendations for Novartis AG (NYSE:NVS)

Receive News & Stock Ratings for Novartis AG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis AG and related stocks with our FREE daily email newsletter.