Novartis AG (NVS) Shares Down 0.7% Following Analyst Downgrade
Novartis AG (NYSE:NVS)’s share price fell 0.7% on Monday after Chardan Capital lowered their price target on the stock from $95.00 to $92.00. Chardan Capital currently has a buy rating on the stock. Novartis AG traded as low as $77.04 and last traded at $77.73, with a volume of 2,032,707 shares changing hands. The stock had previously closed at $78.29.
NVS has been the subject of several other reports. Zacks Investment Research raised shares of Novartis AG from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research note on Monday, July 11th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Novartis AG in a research note on Tuesday, September 13th. TheStreet raised shares of Novartis AG from a “hold” rating to a “buy” rating in a research note on Friday, June 24th. Bank of America Corp. reissued a “hold” rating on shares of Novartis AG in a research note on Tuesday, July 12th. Finally, Argus reaffirmed a “hold” rating on shares of Novartis AG in a research report on Thursday, August 25th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $91.33.
Several large investors have recently bought and sold shares of NVS. Sunbelt Securities Inc. increased its stake in Novartis AG by 0.3% in the second quarter. Sunbelt Securities Inc. now owns 4,545 shares of the company’s stock worth $375,000 after buying an additional 15 shares in the last quarter. Wealthsource Partners LLC increased its position in Novartis AG by 1.3% in the second quarter. Wealthsource Partners LLC now owns 2,907 shares of the company’s stock worth $240,000 after buying an additional 38 shares during the period. Ameritas Investment Partners Inc. increased its position in Novartis AG by 0.3% in the second quarter. Ameritas Investment Partners Inc. now owns 13,133 shares of the company’s stock worth $1,083,000 after buying an additional 44 shares during the period. Private Trust Co. NA increased its position in Novartis AG by 1.7% in the second quarter. Private Trust Co. NA now owns 2,899 shares of the company’s stock worth $239,000 after buying an additional 48 shares during the period. Finally, Carroll Financial Associates Inc. increased its position in Novartis AG by 1.1% in the second quarter. Carroll Financial Associates Inc. now owns 4,597 shares of the company’s stock worth $379,000 after buying an additional 50 shares during the period. 9.78% of the stock is owned by institutional investors.
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The company has a market capitalization of $185.03 billion, a price-to-earnings ratio of 27.742 and a beta of 0.57. The company’s 50-day moving average price is $79.90 and its 200-day moving average price is $78.89.
Novartis AG (NYSE:NVS) last released its quarterly earnings results on Tuesday, July 19th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.05. The business earned $12.47 billion during the quarter, compared to analyst estimates of $12.33 billion. Novartis AG had a return on equity of 15.33% and a net margin of 13.84%. During the same period in the prior year, the firm posted $1.25 EPS. On average, analysts expect that Novartis AG will post $4.72 EPS for the current year.
Novartis AG Company Profile
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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