Several other analysts have also recently issued reports on the company. Kepler Capital Markets cut Novartis from a buy rating to a hold rating in a report on Tuesday, July 23rd. Zacks Investment Research cut Novartis from a buy rating to a hold rating and set a $100.00 price objective on the stock. in a report on Friday, July 19th. JPMorgan Chase & Co. reaffirmed a sell rating on shares of Novartis in a report on Friday, July 5th. Argus upped their price objective on Novartis to $105.00 and gave the stock a buy rating in a report on Tuesday, July 23rd. They noted that the move was a valuation call. Finally, Jefferies Financial Group reaffirmed a buy rating on shares of Novartis in a report on Thursday, August 29th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Hold and an average target price of $93.29.
NYSE NVS opened at $86.97 on Friday. The stock’s 50 day moving average is $87.11 and its 200 day moving average is $87.45. The company has a current ratio of 0.94, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43. Novartis has a 12 month low of $72.19 and a 12 month high of $95.00. The stock has a market cap of $198.38 billion, a PE ratio of 17.09, a P/E/G ratio of 1.97 and a beta of 0.59.
Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.04. The company had revenue of $12.17 billion for the quarter, compared to analysts’ expectations of $11.67 billion. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.32 EPS. On average, analysts forecast that Novartis will post 5.12 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVS. Asset Dedication LLC increased its position in shares of Novartis by 98.7% during the 2nd quarter. Asset Dedication LLC now owns 304 shares of the company’s stock valued at $27,000 after purchasing an additional 151 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of Novartis by 795.8% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 2,750 shares of the company’s stock valued at $27,000 after purchasing an additional 2,443 shares during the last quarter. Vigilant Capital Management LLC bought a new position in shares of Novartis during the 2nd quarter valued at approximately $37,000. Anderson Fisher LLC bought a new position in shares of Novartis during the 2nd quarter valued at approximately $39,000. Finally, Manchester Financial Inc. bought a new position in shares of Novartis during the 2nd quarter valued at approximately $45,000. 11.18% of the stock is currently owned by hedge funds and other institutional investors.
Novartis Company Profile
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.
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