Shares of Novartis AG (NYSE:NVS) have been given an average rating of “Hold” by the seventeen brokerages that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $90.94.
Several research analysts recently weighed in on NVS shares. JPMorgan Chase & Co. downgraded Novartis from a “neutral” rating to an “underweight” rating in a research note on Wednesday, January 2nd. Jefferies Financial Group restated a “buy” rating and set a $105.00 target price on shares of Novartis in a research note on Tuesday, December 11th. Cowen upgraded Novartis from a “market perform” rating to an “outperform” rating and set a $100.00 target price on the stock in a research note on Monday, November 26th. Credit Suisse Group downgraded Novartis to a “sell” rating in a research note on Thursday, December 20th. Finally, Barclays downgraded Novartis from an “equal weight” rating to a “sell” rating in a research note on Friday, December 7th.
NVS opened at $93.42 on Friday. The firm has a market capitalization of $215.80 billion, a PE ratio of 18.35, a P/E/G ratio of 2.15 and a beta of 0.67. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.20 and a quick ratio of 0.97. Novartis has a 12 month low of $72.30 and a 12 month high of $93.89.
Novartis (NYSE:NVS) last released its quarterly earnings results on Wednesday, January 30th. The company reported $1.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.09). The company had revenue of $13.27 billion during the quarter, compared to the consensus estimate of $13.33 billion. Novartis had a return on equity of 15.66% and a net margin of 24.30%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.21 earnings per share. Research analysts expect that Novartis will post 5.34 earnings per share for the current year.
The business also recently disclosed an annual dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, March 5th were issued a $2.8646 dividend. This represents a dividend yield of 3.27%. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Novartis’s previous annual dividend of $2.33. Novartis’s payout ratio is 36.15%.
In other news, major shareholder Bioventures Ltd Novartis sold 43,800 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $1.92, for a total value of $84,096.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.01% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVS. BlackRock Inc. raised its holdings in Novartis by 223.5% in the 4th quarter. BlackRock Inc. now owns 11,439,298 shares of the company’s stock worth $981,607,000 after purchasing an additional 7,902,964 shares during the period. FMR LLC raised its holdings in Novartis by 441.6% in the 4th quarter. FMR LLC now owns 7,016,047 shares of the company’s stock worth $602,046,000 after purchasing an additional 5,720,650 shares during the period. Matthew Goff Investment Advisor LLC raised its holdings in Novartis by 7,454.1% in the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 2,945,178 shares of the company’s stock worth $38,988,000 after purchasing an additional 2,906,190 shares during the period. Bank of America Corp DE raised its holdings in Novartis by 25.1% in the 4th quarter. Bank of America Corp DE now owns 9,053,828 shares of the company’s stock worth $776,909,000 after purchasing an additional 1,817,005 shares during the period. Finally, Mawer Investment Management Ltd. raised its holdings in Novartis by 53.4% in the 4th quarter. Mawer Investment Management Ltd. now owns 4,764,486 shares of the company’s stock worth $408,841,000 after purchasing an additional 1,658,037 shares during the period. 11.68% of the stock is owned by institutional investors.
Novartis Company Profile
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.
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