Novartis AG (NYSE:NVS)’s share price fell 0.7% during mid-day trading on Monday after Chardan Capital lowered their price target on the stock from $95.00 to $92.00. Chardan Capital currently has a buy rating on the stock. Novartis AG traded as low as $77.04 and last traded at $77.73, with a volume of 2,032,707 shares trading hands. The stock had previously closed at $78.29.
NVS has been the subject of several other reports. Zacks Investment Research upgraded Novartis AG from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research report on Monday, July 11th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Novartis AG in a research report on Tuesday, September 13th. TheStreet upgraded Novartis AG from a “hold” rating to a “buy” rating in a research report on Friday, June 24th. Bank of America Corp. reaffirmed a “hold” rating on shares of Novartis AG in a research report on Tuesday, July 12th. Finally, Argus reaffirmed a “hold” rating on shares of Novartis AG in a research report on Thursday, August 25th. Three 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 stock. The stock has a consensus rating of “Hold” and a consensus price target of $91.33.
A number of large investors have recently bought and sold shares of the stock. Parnassus Investments CA boosted its stake in Novartis AG by 61.3% in the second quarter. Parnassus Investments CA now owns 3,481,896 shares of the company’s stock worth $287,291,000 after buying an additional 1,323,724 shares during the period. Thomaspartners Inc. boosted its stake in Novartis AG by 76.6% in the second quarter. Thomaspartners Inc. now owns 2,620,677 shares of the company’s stock worth $216,232,000 after buying an additional 1,136,338 shares during the period. Aristotle Capital Management LLC boosted its stake in Novartis AG by 31.9% in the second quarter. Aristotle Capital Management LLC now owns 2,736,946 shares of the company’s stock worth $225,825,000 after buying an additional 662,285 shares during the period. FMR LLC boosted its stake in Novartis AG by 65.6% in the second quarter. FMR LLC now owns 1,208,384 shares of the company’s stock worth $99,704,000 after buying an additional 478,679 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Novartis AG during the second quarter worth $37,505,000. Institutional investors and hedge funds own 9.78% of the company’s stock.
The firm’s 50 day moving average price is $79.80 and its 200-day moving average price is $78.99. The firm has a market cap of $185.14 billion, a price-to-earnings ratio of 27.76 and a beta of 0.57.
Novartis AG (NYSE:NVS) last issued its earnings results on Tuesday, July 19th. The company reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.05. The business earned $12.47 billion during the quarter, compared to the consensus estimate of $12.33 billion. Novartis AG had a return on equity of 15.33% and a net margin of 13.84%. During the same period in the previous year, the company posted $1.25 earnings per share. On average, equities analysts expect that Novartis AG will post $4.72 earnings per share for the current year.
Novartis AG Company Profile
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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