Novartis AG (NVS) Stock Rating Reaffirmed by JPMorgan Chase & Co.
Novartis AG (NYSE:NVS)‘s stock had its “buy” rating reiterated by equities researchers at JPMorgan Chase & Co. in a report issued on Monday.
Other equities analysts also recently issued reports about the company. Chardan Capital reduced their target price on Novartis AG from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday. Zacks Investment Research upgraded Novartis AG from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th. TheStreet downgraded Novartis AG from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Bank of America Corp. restated a “hold” rating on shares of Novartis AG in a report on Tuesday, July 12th. Finally, Argus restated a “hold” rating on shares of Novartis AG in a report on Thursday, August 25th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $91.33.
Novartis AG (NYSE:NVS) traded down 0.75% during midday trading on Monday, reaching $77.70. The company had a trading volume of 1,510,650 shares. The firm’s 50-day moving average price is $79.90 and its 200 day moving average price is $78.89. The firm has a market capitalization of $185.02 billion, a PE ratio of 27.74 and a beta of 0.57. Novartis AG has a 12 month low of $69.90 and a 12 month high of $95.11.
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Novartis AG (NYSE:NVS) last released its earnings results on Tuesday, July 19th. The company reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.05. Novartis AG had a return on equity of 15.33% and a net margin of 13.84%. The firm had revenue of $12.47 billion for the quarter, compared to the consensus estimate of $12.33 billion. During the same period in the prior year, the business posted $1.25 earnings per share. Equities analysts anticipate that Novartis AG will post $4.72 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the stock. Quadrature Capital Ltd acquired a new stake in shares of Novartis AG during the first quarter worth $11,550,000. UBS Asset Management Americas Inc. raised its stake in shares of Novartis AG by 183.1% in the first quarter. UBS Asset Management Americas Inc. now owns 76,397 shares of the company’s stock worth $5,534,000 after buying an additional 49,415 shares during the period. Primecap Management Co. CA raised its stake in shares of Novartis AG by 0.8% in the first quarter. Primecap Management Co. CA now owns 20,938,858 shares of the company’s stock worth $1,516,811,000 after buying an additional 170,750 shares during the period. Bank of Nova Scotia Trust Co. acquired a new stake in shares of Novartis AG during the first quarter worth $2,290,000. Finally, Scotia Capital Inc. raised its stake in shares of Novartis AG by 57.0% in the first quarter. Scotia Capital Inc. now owns 41,118 shares of the company’s stock worth $2,980,000 after buying an additional 14,924 shares during the period. Hedge funds and other institutional investors own 9.78% of the company’s stock.
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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