Novartis AG (NVS) Given Consensus Rating of “Hold” by Brokerages
Shares of Novartis AG (NYSE:NVS) have been assigned a consensus recommendation of “Hold” from the twenty brokerages that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $83.32.
Several equities analysts have weighed in on NVS shares. TheStreet raised Novartis AG from a “c+” rating to a “b” rating in a report on Friday, June 2nd. Zacks Investment Research raised Novartis AG from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a report on Tuesday, September 19th. Barclays PLC upgraded Novartis AG from an “underweight” rating to an “equal weight” rating in a research note on Thursday, June 22nd. Cowen and Company set a $77.00 price target on Novartis AG and gave the company a “hold” rating in a research note on Tuesday, July 11th. Finally, BidaskClub upgraded Novartis AG from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th.
Novartis AG (NYSE:NVS) last announced its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.06. The firm had revenue of $12.24 billion during the quarter, compared to analysts’ expectations of $12.20 billion. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.23 EPS.
In other news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of Novartis AG stock in a transaction that occurred on Wednesday, July 5th. The shares were acquired at an average price of $15.00 per share, for a total transaction of $4,000,005.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.01% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. City Holding Co. grew its position in Novartis AG by 4.6% during the 2nd quarter. City Holding Co. now owns 1,217 shares of the company’s stock worth $102,000 after acquiring an additional 54 shares during the last quarter. WFG Advisors LP grew its position in Novartis AG by 38.1% during the 2nd quarter. WFG Advisors LP now owns 1,221 shares of the company’s stock worth $102,000 after acquiring an additional 337 shares during the last quarter. TCI Wealth Advisors Inc. grew its position in Novartis AG by 20.0% during the 1st quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock worth $103,000 after acquiring an additional 230 shares during the last quarter. Archford Capital Strategies LLC grew its position in Novartis AG by 72.3% during the 1st quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock worth $110,000 after acquiring an additional 621 shares during the last quarter. Finally, Kernodle & Katon Asset Management Group LLC grew its position in Novartis AG by 3.4% during the 1st quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock worth $111,000 after acquiring an additional 49 shares during the last quarter. Institutional investors and hedge funds own 10.93% of the company’s stock.
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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