Novartis (NYSE:NVS) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Novartis (NYSE:NVS) from a hold rating to a buy rating in a research report report published on Saturday.

A number of other research analysts have also recently issued reports on the company. Jefferies Financial Group reissued a “hold” rating on shares of Novartis in a research note on Monday, October 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a report on Friday. Cowen restated a “hold” rating on shares of Novartis in a research note on Monday, November 10th. HC Wainwright cut Novartis to a “neutral” rating in a research report on Monday, October 27th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Novartis in a report on Wednesday, December 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Novartis has an average rating of “Hold” and an average target price of $119.75.

Novartis Trading Up 1.0%

NVS stock opened at $144.52 on Friday. Novartis has a 1-year low of $97.45 and a 1-year high of $146.35. The company has a current ratio of 0.88, a quick ratio of 0.68 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average is $134.77 and its 200-day moving average is $127.85. The firm has a market cap of $305.29 billion, a P/E ratio of 19.74, a P/E/G ratio of 1.99 and a beta of 0.51.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.01). The firm had revenue of $14.36 billion for the quarter, compared to the consensus estimate of $13.70 billion. Novartis had a net margin of 26.49% and a return on equity of 41.21%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.06 earnings per share. Equities analysts anticipate that Novartis will post 8.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Novartis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. increased its position in shares of Novartis by 77.7% in the third quarter. Raymond James Financial Inc. now owns 1,648,174 shares of the company’s stock worth $211,362,000 after purchasing an additional 720,860 shares during the period. CIBC Bancorp USA Inc. bought a new position in Novartis in the 3rd quarter valued at about $64,563,000. Bank of Montreal Can raised its position in shares of Novartis by 85.0% in the 3rd quarter. Bank of Montreal Can now owns 1,045,191 shares of the company’s stock valued at $134,035,000 after buying an additional 480,201 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Novartis by 5.3% during the 2nd quarter. Fisher Asset Management LLC now owns 7,121,414 shares of the company’s stock worth $861,762,000 after acquiring an additional 358,282 shares during the period. Finally, Balyasny Asset Management L.P. boosted its position in shares of Novartis by 52.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 876,956 shares of the company’s stock worth $106,120,000 after acquiring an additional 303,553 shares in the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Company Profile

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.