Novartis AG (NVS) Receives “Buy” Rating from Jefferies Group
NVS has been the subject of a number of other reports. Zacks Investment Research upgraded 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. JPMorgan Chase & Co. reiterated a buy rating on shares of Novartis AG in a research note on Tuesday, September 13th. TheStreet upgraded Novartis AG from a hold rating to a buy rating in a research note on Friday, June 24th. Chardan Capital reduced their price objective on Novartis AG from $95.00 to $92.00 and set a buy rating for the company in a research note on Monday, October 10th. Finally, Bank of America Corp. restated a hold rating on shares of Novartis AG in a research note on Tuesday, July 12th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $91.33.
Novartis AG (NYSE:NVS) opened at 76.09 on Friday. The stock has a market capitalization of $181.19 billion, a PE ratio of 27.17 and a beta of 0.57. The company has a 50-day moving average price of $79.33 and a 200-day moving average price of $78.96. Novartis AG has a 12-month low of $69.90 and a 12-month high of $94.63.
Novartis AG (NYSE:NVS) last released its quarterly earnings results on Tuesday, July 19th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.05. Novartis AG had a return on equity of 15.33% and a net margin of 13.84%. The company earned $12.47 billion during the quarter, compared to analysts’ expectations of $12.33 billion. During the same period last year, the business posted $1.25 earnings per share. Analysts expect that Novartis AG will post $4.72 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of NVS. Integrated Investment Consultants LLC raised its stake in shares of Novartis AG by 6.3% in the second quarter. Integrated Investment Consultants LLC now owns 1,240 shares of the company’s stock valued at $102,000 after buying an additional 74 shares during the last quarter. Whitnell & Co. raised its stake in shares of Novartis AG by 14.6% in the second quarter. Whitnell & Co. now owns 1,410 shares of the company’s stock valued at $116,000 after buying an additional 180 shares during the last quarter. Iowa State Bank acquired a new stake in shares of Novartis AG during the second quarter valued at approximately $122,000. M&R Capital Management Inc. acquired a new stake in shares of Novartis AG during the second quarter valued at approximately $122,000. Finally, WFG Advisors LP raised its stake in shares of Novartis AG by 8.9% in the second quarter. WFG Advisors LP now owns 1,624 shares of the company’s stock valued at $134,000 after buying an additional 133 shares during the last quarter. 9.78% of the stock is currently owned by institutional investors.
Novartis AG Company Profile
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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