Chardan Capital Lowers Novartis AG (NVS) Price Target to $92.00
Novartis AG (NYSE:NVS) had its target price lowered by research analysts at Chardan Capital from $95.00 to $92.00 in a note issued to investors on Monday, StockTargetPrices.com reports. The firm presently has a “buy” rating on the stock. Chardan Capital’s price objective points to a potential upside of 17.51% from the company’s previous close.
Other analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Novartis AG from a “sell” rating to a “hold” rating in a research note on Wednesday, June 15th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Novartis AG in a research note on Tuesday, July 19th. TheStreet cut shares of Novartis AG from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Bank of America Corp. reaffirmed a “hold” rating on shares of Novartis AG in a research report on Tuesday, July 12th. Finally, Argus reaffirmed a “hold” rating on shares of Novartis AG in a research report on Thursday, August 25th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $91.33.
Novartis AG (NYSE:NVS) opened at 78.29 on Monday. Novartis AG has a 52 week low of $69.90 and a 52 week high of $95.11. The company has a market cap of $186.43 billion, a P/E ratio of 27.95 and a beta of 0.57. The company has a 50-day moving average of $79.90 and a 200-day moving average of $78.89.
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Novartis AG (NYSE:NVS) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.05. Novartis AG had a net margin of 13.84% and a return on equity of 15.33%. The business earned $12.47 billion during the quarter, compared to analysts’ expectations of $12.33 billion. During the same quarter in the prior year, the company posted $1.25 EPS. On average, equities research analysts predict that Novartis AG will post $4.72 EPS for the current year.
Large investors have recently made changes to their positions in the stock. Dearborn Partners LLC raised its stake in shares of Novartis AG by 3.1% in the second quarter. Dearborn Partners LLC now owns 342,484 shares of the company’s stock worth $28,258,000 after buying an additional 10,427 shares during the last quarter. Bartlett & Co. LLC raised its stake in shares of Novartis AG by 1.2% in the second quarter. Bartlett & Co. LLC now owns 446,714 shares of the company’s stock worth $36,858,000 after buying an additional 5,270 shares during the last quarter. Compass Capital Management Inc. raised its stake in shares of Novartis AG by 15.3% in the second quarter. Compass Capital Management Inc. now owns 247,197 shares of the company’s stock worth $20,396,000 after buying an additional 32,845 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Novartis AG by 1.8% in the first quarter. Royal Bank of Canada now owns 1,070,573 shares of the company’s stock worth $77,553,000 after buying an additional 18,714 shares during the last quarter. Finally, Woodley Farra Manion Portfolio Management Inc. purchased a new stake in shares of Novartis AG during the second quarter worth $26,632,000. Institutional investors and hedge funds own 9.78% of the company’s stock.
About Novartis AG
Novartis AG is a holding company. The Company specializes in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals, including eye care products. Its portfolio includes medicines, eye care and generic pharmaceuticals. The Company’s segments include Pharmaceuticals, Alcon and Sandoz.
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