Novartis AG (NYSE:NVS) has been given an average rating of “Hold” by the eighteen research firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $81.59.
Several research firms recently issued reports on NVS. BidaskClub lowered Novartis AG from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Cowen and Company set a $90.00 price objective on Novartis AG and gave the company a “hold” rating in a research note on Wednesday, August 9th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis AG in a research note on Tuesday, October 10th. Finally, Barclays PLC raised Novartis AG from an “underweight” rating to an “equal weight” rating in a research note on Thursday, June 22nd.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVS. CGOV Asset Management raised its position in Novartis AG by 2.5% during the first quarter. CGOV Asset Management now owns 997,161 shares of the company’s stock valued at $98,662,000 after purchasing an additional 24,430 shares in the last quarter. FCA Corp TX raised its position in Novartis AG by 3.2% during the first quarter. FCA Corp TX now owns 24,523 shares of the company’s stock valued at $1,821,000 after purchasing an additional 760 shares in the last quarter. Argent Trust Co raised its position in Novartis AG by 22.2% during the first quarter. Argent Trust Co now owns 7,997 shares of the company’s stock valued at $594,000 after purchasing an additional 1,452 shares in the last quarter. Assetmark Inc. raised its position in Novartis AG by 14.3% during the first quarter. Assetmark Inc. now owns 93,322 shares of the company’s stock valued at $6,931,000 after purchasing an additional 11,666 shares in the last quarter. Finally, Carret Asset Management LLC raised its position in Novartis AG by 5.8% during the first quarter. Carret Asset Management LLC now owns 48,407 shares of the company’s stock valued at $3,595,000 after purchasing an additional 2,650 shares in the last quarter. Institutional investors and hedge funds own 10.93% of the company’s stock.
Shares of Novartis AG (NVS) traded up 0.09% during trading on Thursday, reaching $86.45. The company’s stock had a trading volume of 964,054 shares. Novartis AG has a 52-week low of $66.93 and a 52-week high of $86.90. The stock has a market cap of $202.54 billion, a P/E ratio of 31.56 and a beta of 0.73. The stock has a 50-day moving average of $85.27 and a 200-day moving average of $81.90.
Novartis AG (NYSE:NVS) last posted its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.06. The company had revenue of $12.24 billion during the quarter, compared to analyst estimates of $12.20 billion. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $1.23 earnings per share. Analysts predict that Novartis AG will post $4.75 earnings per share for the current fiscal year.
Novartis AG Company Profile
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.
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