Novartis AG (NYSE:NVS) was downgraded by analysts at TheStreet from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
A number of other analysts also recently issued reports on NVS. Zacks Investment Research raised shares of Novartis AG from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th. Bank of America Corp. reaffirmed a “hold” rating on shares of Novartis AG in a report on Tuesday, July 12th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Novartis AG in a report on Wednesday, July 13th. Argus reaffirmed a “hold” rating on shares of Novartis AG in a report on Thursday, August 25th. Finally, Chardan Capital initiated 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 for the company. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $91.83.
Shares of Novartis AG (NYSE:NVS) traded down 2.43% during mid-day trading on Wednesday, reaching $79.25. The company’s stock had a trading volume of 1,926,376 shares. The company’s 50-day moving average is $80.47 and its 200 day moving average is $78.66. Novartis AG has a 12 month low of $69.90 and a 12 month high of $95.11. The firm has a market cap of $188.71 billion, a price-to-earnings ratio of 28.29 and a beta of 0.58.
Novartis AG (NYSE:NVS) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.05. Novartis AG had a net margin of 13.84% and a return on equity of 15.33%. The company earned $12.47 billion during the quarter, compared to the consensus estimate of $12.33 billion. During the same period in the previous year, the firm posted $1.25 EPS. On average, equities analysts anticipate that Novartis AG will post $4.72 EPS for the current year.
Several institutional investors have recently made changes to their positions in the stock. Integrated Investment Consultants LLC boosted its position in shares of 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 in the last quarter. Whitnell & Co. boosted its position in shares of 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 in the last quarter. Iowa State Bank bought a new position in shares of Novartis AG during the second quarter valued at about $122,000. M&R Capital Management Inc. bought a new position in shares of Novartis AG during the second quarter valued at about $122,000. Finally, WFG Advisors LP boosted its position in shares of 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 in the last quarter. Institutional investors own 9.78% 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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