A number of other brokerages have also recently issued reports on NVS. Argus reaffirmed a hold rating on shares of Novartis AG in a research note on Thursday, August 25th. Zacks Investment Research cut Novartis AG from a buy rating to a hold rating in a research note on Tuesday, July 12th. TheStreet cut Novartis AG from a buy rating to a hold rating in a research note on Wednesday, September 28th. Chardan Capital began coverage on Novartis AG in a research note on Tuesday, September 20th. They set a buy rating and a $95.00 price objective on the stock. Finally, Bank of America Corp. reiterated a hold rating on shares of Novartis AG in a report on Tuesday, July 12th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $91.33.
Shares of Novartis AG (NYSE:NVS) opened at 76.76 on Monday. The company has a market capitalization of $182.78 billion, a price-to-earnings ratio of 27.40 and a beta of 0.57. Novartis AG has a one year low of $69.89 and a one year high of $95.11. The firm’s 50-day moving average price is $79.43 and its 200-day moving average price is $78.94.
Novartis AG (NYSE:NVS) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.05. Novartis AG had a return on equity of 15.33% and a net margin of 13.84%. The firm had revenue of $12.47 billion for the quarter, compared to analysts’ expectations of $12.33 billion. During the same period last year, the firm earned $1.25 earnings per share. Analysts anticipate that Novartis AG will post $4.72 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Integrated Investment Consultants LLC raised 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 last quarter. Whitnell & Co. raised 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 last quarter. Iowa State Bank acquired a new position in Novartis AG during the second quarter valued at about $122,000. M&R Capital Management Inc. acquired a new position in Novartis AG during the second quarter valued at about $122,000. Finally, WFG Advisors LP raised 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 last quarter. Hedge funds and other 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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