Chardan Capital initiated coverage on shares of Novartis AG (NYSE:NVS) in a research note issued to investors on Tuesday. The brokerage issued a buy rating and a $95.00 target price on the stock.

NVS has been the topic of several other reports. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Novartis AG in a research report on Tuesday, September 13th. Argus reissued a hold rating on shares of Novartis AG in a research note on Thursday, August 25th. Zacks Investment Research raised Novartis AG from a hold rating to a buy rating and set a $92.00 price target for the company in a research note on Monday, July 11th. TheStreet raised Novartis AG from a hold rating to a buy rating in a research note on Friday, June 24th. Finally, Citigroup Inc. reissued a neutral rating on shares of Novartis AG in a research note on Tuesday, May 24th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $91.83.

Novartis AG (NYSE:NVS) opened at 82.03 on Tuesday. The company has a 50-day moving average of $80.75 and a 200 day moving average of $78.38. Novartis AG has a 52 week low of $69.90 and a 52 week high of $95.11. The firm has a market cap of $195.33 billion, a P/E ratio of 29.29 and a beta of 0.58.

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 Thomson Reuters’ consensus estimate of $1.18 by $0.05. Novartis AG had a return on equity of 15.33% and a net margin of 13.84%. The firm had revenue of $12.47 billion for the quarter, compared to analyst estimates of $12.33 billion. During the same period last year, the company earned $1.25 earnings per share. On average, equities analysts predict that Novartis AG will post $4.72 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Primecap Management Co. CA raised its position in Novartis AG by 0.8% in the first quarter. Primecap Management Co. CA now owns 20,938,858 shares of the company’s stock worth $1,516,811,000 after buying an additional 170,750 shares during the period. Franklin Resources Inc. raised its position in Novartis AG by 22.4% in the first quarter. Franklin Resources Inc. now owns 11,998,737 shares of the company’s stock worth $869,189,000 after buying an additional 2,195,618 shares during the period. Fisher Asset Management LLC raised its position in Novartis AG by 1.2% in the second quarter. Fisher Asset Management LLC now owns 6,363,641 shares of the company’s stock worth $523,791,000 after buying an additional 76,542 shares during the period. Loomis Sayles & Co. L P raised its position in Novartis AG by 6.8% in the second quarter. Loomis Sayles & Co. L P now owns 5,601,211 shares of the company’s stock worth $462,156,000 after buying an additional 358,263 shares during the period. Finally, Mawer Investment Management Ltd. raised its position in Novartis AG by 10.4% in the second quarter. Mawer Investment Management Ltd. now owns 3,743,858 shares of the company’s stock worth $308,906,000 after buying an additional 351,773 shares during the period. Institutional investors and hedge funds own 9.78% of the company’s stock.

About Novartis AG

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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