Novartis AG (NVS) Upgraded by BidaskClub to “Hold”
BidaskClub upgraded shares of Novartis AG (NYSE:NVS) from a sell rating to a hold rating in a research report released on Saturday.
A number of other research analysts have also commented on the company. TheStreet raised Novartis AG from a c+ rating to a b rating in a report on Friday, June 2nd. Barclays PLC raised Novartis AG from an underweight rating to an equal weight rating in a report on Thursday, June 22nd. Zacks Investment Research raised Novartis AG from a strong sell rating to a hold rating in a report on Monday, May 1st. Vetr lowered Novartis AG from a buy rating to a hold rating and set a $78.32 price target on the stock. in a report on Tuesday, April 25th. Finally, Cowen and Company set a $77.00 price target on Novartis AG and gave the company a hold rating in a report on Tuesday, July 11th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $81.71.
Novartis AG (NYSE:NVS) opened at 84.16 on Friday. The stock has a market capitalization of $197.18 billion, a price-to-earnings ratio of 30.73 and a beta of 0.73. Novartis AG has a 52-week low of $66.93 and a 52-week high of $86.90. The company has a 50-day moving average of $83.98 and a 200-day moving average of $78.22.
Novartis AG (NYSE:NVS) last issued its earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.06. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The firm had revenue of $12.24 billion for the quarter, compared to analyst estimates of $12.20 billion. During the same period last year, the company earned $1.23 earnings per share. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. Equities research analysts expect that Novartis AG will post $4.75 EPS for the current year.
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In other news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The stock was acquired at an average price of $15.00 per share, with a total value of $4,000,005.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.01% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in NVS. Howe & Rusling Inc. boosted its position in shares of Novartis AG by 192.2% in the first quarter. Howe & Rusling Inc. now owns 1,341 shares of the company’s stock valued at $100,000 after buying an additional 882 shares in the last quarter. City Holding Co. boosted its position in shares of Novartis AG by 4.6% in the second quarter. City Holding Co. now owns 1,217 shares of the company’s stock valued at $102,000 after buying an additional 54 shares in the last quarter. TCI Wealth Advisors Inc. boosted its position in shares of Novartis AG by 20.0% in the first quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock valued at $103,000 after buying an additional 230 shares in the last quarter. Archford Capital Strategies LLC boosted its position in shares of Novartis AG by 72.3% in the first quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock valued at $110,000 after buying an additional 621 shares in the last quarter. Finally, Kernodle & Katon Asset Management Group LLC boosted its position in shares of Novartis AG by 3.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock valued at $111,000 after buying an additional 49 shares in the last quarter. 11.27% of the stock is owned by institutional investors and hedge funds.
About Novartis AG
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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