Novartis (NVS) Earns Neutral Rating from JPMorgan Chase & Co.
NVS has been the subject of several other research reports. Goldman Sachs Group reiterated a neutral rating on shares of Novartis in a research note on Wednesday, October 10th. Bank of America upgraded Novartis from an underperform rating to a buy rating and set a $74.71 price target for the company in a research note on Monday, September 10th. Zacks Investment Research downgraded Novartis from a hold rating to a sell rating in a research note on Wednesday, August 29th. Guggenheim initiated coverage on Novartis in a research note on Monday, October 8th. They set a neutral rating for the company. Finally, ValuEngine upgraded Novartis from a sell rating to a hold rating in a research note on Wednesday, September 12th. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Novartis has a consensus rating of Hold and a consensus price target of $84.86.
Shares of Novartis stock traded down $0.02 during trading hours on Tuesday, hitting $89.22. 2,706,701 shares of the company’s stock traded hands, compared to its average volume of 3,385,154. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.20 and a quick ratio of 0.96. The firm has a market cap of $206.02 billion, a PE ratio of 18.55, a P/E/G ratio of 1.97 and a beta of 0.73. Novartis has a 12-month low of $72.30 and a 12-month high of $94.19.
Hedge funds and other institutional investors have recently modified their holdings of the business. Stelac Advisory Services LLC bought a new position in Novartis in the 3rd quarter worth about $113,000. Columbia Asset Management bought a new position in Novartis in the 3rd quarter worth about $126,000. Howe & Rusling Inc. boosted its stake in Novartis by 50.9% in the 3rd quarter. Howe & Rusling Inc. now owns 1,705 shares of the company’s stock worth $147,000 after purchasing an additional 575 shares during the period. WESPAC Advisors SoCal LLC bought a new position in Novartis in the 3rd quarter worth about $152,000. Finally, Quad Cities Investment Group LLC bought a new position in Novartis in the 2nd quarter worth about $139,000. Institutional investors and hedge funds own 10.95% of the company’s stock.
Novartis Company Profile
Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.
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