Novartis AG’s (NVS) Neutral Rating Reaffirmed at J P Morgan Chase & Co
Novartis AG (NYSE:NVS)‘s stock had its “neutral” rating reiterated by J P Morgan Chase & Co in a research note issued on Tuesday.
NVS has been the topic of several other research reports. Zacks Investment Research raised shares of Novartis AG from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research note on Tuesday, September 19th. Leerink Swann reissued a “market perform” rating and set a $83.00 price objective on shares of Novartis AG in a research note on Thursday, June 22nd. Morgan Stanley raised shares of Novartis AG from an “underweight” rating to an “overweight” rating in a research note on Wednesday, July 26th. Credit Suisse Group lowered shares of Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price objective on the stock. in a research note on Wednesday, July 5th. Finally, Cowen and Company set a $77.00 price objective on shares of Novartis AG and gave the stock a “hold” rating in a research note on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $85.12.
Novartis AG (NVS) opened at 85.45 on Tuesday. The company has a market cap of $200.20 billion, a PE ratio of 31.20 and a beta of 0.73. The firm has a 50-day moving average of $84.91 and a 200 day moving average of $81.57. Novartis AG has a 52-week low of $66.93 and a 52-week high of $86.90.
Novartis AG (NYSE:NVS) last issued its earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.06. The company had revenue of $12.24 billion for the quarter, compared to analyst estimates of $12.20 billion. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 EPS. Equities research analysts expect that Novartis AG will post $4.75 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently made changes to their positions in the business. City Holding Co. lifted its stake in 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. WFG Advisors LP lifted its stake in Novartis AG by 38.1% in the second quarter. WFG Advisors LP now owns 1,221 shares of the company’s stock valued at $102,000 after buying an additional 337 shares in the last quarter. Archford Capital Strategies LLC lifted its stake in 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. Kernodle & Katon Asset Management Group LLC lifted its stake in 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. Finally, Massey Quick & Co. LLC bought a new position in Novartis AG in the first quarter valued at approximately $119,000. 10.92% of the stock is currently owned by hedge funds and other institutional investors.
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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