Novartis AG (NYSE:NVS)‘s stock had its “neutral” rating reiterated by analysts at J P Morgan Chase & Co in a note issued to investors on Monday.
A number of other brokerages have also weighed in on NVS. Vetr lowered Novartis AG from a “buy” rating to a “hold” rating and set a $78.32 price objective on the stock. in a report on Tuesday, April 25th. UBS AG reaffirmed a “neutral” rating on shares of Novartis AG in a report on Tuesday, May 30th. Zacks Investment Research lowered Novartis AG from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Barclays PLC raised Novartis AG from an “underweight” rating to an “equal weight” rating in a report on Thursday, June 22nd. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating on shares of Novartis AG in a report on Wednesday, March 22nd. Four analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. Novartis AG has a consensus rating of “Hold” and an average price target of $81.71.
Shares of Novartis AG (NVS) traded up 0.46% during trading on Monday, reaching $85.16. The company’s stock had a trading volume of 995,589 shares. The stock has a market cap of $201.45 billion, a price-to-earnings ratio of 32.02 and a beta of 0.73. Novartis AG has a one year low of $66.93 and a one year high of $86.90. The company has a 50-day moving average price of $82.65 and a 200-day moving average price of $77.25.
Novartis AG (NYSE:NVS) last issued its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. Novartis AG had a return on equity of 15.46% and a net margin of 13.10%. The firm had revenue of $12.24 billion during the quarter, compared to analysts’ expectations of $12.20 billion. During the same period in the prior year, the business posted $1.23 EPS. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. On average, equities research analysts forecast that Novartis AG will post $4.72 earnings per share for the current fiscal year.
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In other Novartis AG news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were bought at an average price of $15.00 per share, for a total transaction of $4,000,005.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.01% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Howe & Rusling Inc. increased its position in Novartis AG by 192.2% in the first quarter. Howe & Rusling Inc. now owns 1,341 shares of the company’s stock worth $100,000 after buying an additional 882 shares during the last quarter. City Holding Co. boosted its stake 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 worth $102,000 after buying an additional 54 shares during the period. TCI Wealth Advisors Inc. boosted its stake 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 worth $103,000 after buying an additional 230 shares during the period. Archford Capital Strategies LLC boosted its stake 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 worth $110,000 after buying an additional 621 shares during the period. Finally, Kernodle & Katon Asset Management Group LLC boosted its stake 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 worth $111,000 after buying an additional 49 shares during the period. 11.29% of the stock is currently owned by institutional investors.
Novartis AG Company Profile
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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