Novartis (NVS) Receives Neutral Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their neutral rating on shares of Novartis (NYSE:NVS) in a research report report published on Thursday morning.

NVS has been the topic of several other reports. Bank of America upgraded Novartis from an underperform rating to a buy rating and set a $74.71 price objective on the stock in a research report on Monday, September 10th. Goldman Sachs Group reiterated a neutral rating on shares of Novartis in a research report on Wednesday, October 10th. Zacks Investment Research lowered Novartis from a hold rating to a sell rating in a research report on Wednesday, August 29th. ValuEngine lowered Novartis from a sell rating to a strong sell rating in a research report on Monday, July 2nd. Finally, Citigroup upgraded Novartis from a neutral rating to a buy rating in a research report on Tuesday, September 11th. Thirteen analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Novartis currently has a consensus rating of Hold and a consensus target price of $86.90.

Shares of Novartis stock traded up $1.05 during trading on Thursday, hitting $87.29. 203,003 shares of the stock traded hands, compared to its average volume of 2,141,944. The company has a current ratio of 1.15, a quick ratio of 0.89 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $197.63 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 1.90 and a beta of 0.83. Novartis has a 52 week low of $72.30 and a 52 week high of $94.19.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Thursday, October 18th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.31 by $0.01. The firm had revenue of $12.78 billion for the quarter, compared to analyst estimates of $12.88 billion. Novartis had a return on equity of 16.05% and a net margin of 27.06%. The company’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.29 EPS. As a group, analysts predict that Novartis will post 5.17 earnings per share for the current fiscal year.

In related news, major shareholder Bioventures Ltd Novartis sold 8,181 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $3.22, for a total transaction of $26,342.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 81,022 shares of company stock worth $289,251. 0.01% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fisher Asset Management LLC lifted its stake in shares of Novartis by 4.5% in the 2nd quarter. Fisher Asset Management LLC now owns 7,325,261 shares of the company’s stock valued at $553,350,000 after purchasing an additional 318,787 shares during the period. Boston Partners lifted its stake in shares of Novartis by 106.0% in the 2nd quarter. Boston Partners now owns 5,606,630 shares of the company’s stock valued at $423,525,000 after purchasing an additional 2,885,436 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new position in shares of Novartis in the 2nd quarter valued at approximately $297,538,000. Renaissance Technologies LLC lifted its stake in shares of Novartis by 89.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,856,288 shares of the company’s stock valued at $291,304,000 after purchasing an additional 1,819,590 shares during the period. Finally, Mawer Investment Management Ltd. lifted its stake in shares of Novartis by 2.2% in the 2nd quarter. Mawer Investment Management Ltd. now owns 2,968,452 shares of the company’s stock valued at $224,237,000 after purchasing an additional 65,185 shares during the period. Institutional investors and hedge funds own 10.95% 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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Analyst Recommendations for Novartis (NYSE:NVS)

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