Novartis (NYSE:NVS)‘s stock had its “neutral” rating reissued by stock analysts at JPMorgan Chase & Co. in a note issued to investors on Thursday.
Several other equities analysts have also recently weighed in on the company. Goldman Sachs Group restated a “neutral” rating on shares of Novartis in a report on Wednesday. Guggenheim began coverage on Novartis in a report on Monday, October 8th. They set a “neutral” rating for the company. Zacks Investment Research upgraded Novartis from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a report on Tuesday, September 18th. BNP Paribas upgraded Novartis from an “underperform” rating to a “neutral” rating in a report on Tuesday, September 11th. Finally, ValuEngine upgraded Novartis from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. Thirteen research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Novartis presently has an average rating of “Hold” and an average price target of $86.90.
NYSE NVS opened at $82.78 on Thursday. The company has a market cap of $199.67 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.80 and a beta of 0.83. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.15 and a quick ratio of 0.89. Novartis has a 1-year low of $72.30 and a 1-year high of $94.19.
Novartis (NYSE:NVS) last released its quarterly earnings results on Wednesday, July 18th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.02. The business had revenue of $13.16 billion during the quarter, compared to analysts’ expectations of $12.93 billion. Novartis had a return on equity of 16.05% and a net margin of 27.06%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.22 EPS. As a group, research analysts forecast that Novartis will post 5.17 EPS for the current fiscal year.
In other news, major shareholder Bioventures Ltd Novartis sold 8,181 shares of Novartis stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $3.22, for a total value of $26,342.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 81,322 shares of company stock valued at $290,796. Company insiders own 0.01% of the company’s stock.
Several institutional investors have recently made changes to their positions in NVS. Winthrop Partners WNY LLC purchased a new position in shares of Novartis in the 1st quarter worth approximately $100,000. Gables Capital Management Inc. purchased a new position in shares of Novartis in the 1st quarter worth approximately $103,000. Quad Cities Investment Group LLC purchased a new position in shares of Novartis in the 2nd quarter worth approximately $139,000. Moneta Group Investment Advisors LLC purchased a new position in shares of Novartis in the 2nd quarter worth approximately $174,000. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of Novartis in the 2nd quarter worth approximately $199,000. Hedge funds and other institutional investors own 10.94% 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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