Novartis AG’s (NVS) “Buy” Rating Reiterated at JPMorgan Chase & Co.
Novartis AG (NYSE:NVS)‘s stock had its “buy” rating restated by investment analysts at JPMorgan Chase & Co. in a report released on Monday.
NVS has been the subject of several other research reports. Zacks Investment Research lowered shares of Novartis AG from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. Argus reiterated a “hold” rating on shares of Novartis AG in a research note on Thursday, August 25th. Bank of America Corp. reiterated a “hold” rating on shares of Novartis AG in a research note on Tuesday, July 12th. TheStreet upgraded shares of Novartis AG from a “hold” rating to a “buy” rating in a research note on Friday, June 24th. Finally, Chardan Capital started coverage on shares of Novartis AG in a research note on Tuesday, September 20th. They issued a “buy” rating and a $95.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Novartis AG presently has a consensus rating of “Hold” and a consensus target price of $91.33.
Shares of Novartis AG (NYSE:NVS) traded down 0.91% on Monday, reaching $77.58. 772,615 shares of the company’s stock traded hands. The firm has a market cap of $184.74 billion, a P/E ratio of 27.70 and a beta of 0.57. Novartis AG has a one year low of $69.90 and a one year high of $95.11. The company’s 50-day moving average price is $79.90 and its 200 day moving average price is $78.89.
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Novartis AG (NYSE:NVS) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.05. The firm earned $12.47 billion during the quarter, compared to analyst estimates of $12.33 billion. Novartis AG had a net margin of 13.84% and a return on equity of 15.33%. During the same quarter last year, the business posted $1.25 EPS. On average, equities analysts forecast that Novartis AG will post $4.72 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVS. Parnassus Investments CA increased its position in Novartis AG by 61.3% in the second quarter. Parnassus Investments CA now owns 3,481,896 shares of the company’s stock valued at $287,291,000 after buying an additional 1,323,724 shares during the period. Thomaspartners Inc. increased its position in Novartis AG by 76.6% in the second quarter. Thomaspartners Inc. now owns 2,620,677 shares of the company’s stock valued at $216,232,000 after buying an additional 1,136,338 shares during the period. Aristotle Capital Management LLC increased its position in Novartis AG by 31.9% in the second quarter. Aristotle Capital Management LLC now owns 2,736,946 shares of the company’s stock valued at $225,825,000 after buying an additional 662,285 shares during the period. FMR LLC increased its position in Novartis AG by 65.6% in the second quarter. FMR LLC now owns 1,208,384 shares of the company’s stock valued at $99,704,000 after buying an additional 478,679 shares during the period. Finally, Marshall Wace LLP acquired a new position in Novartis AG during the second quarter valued at approximately $37,505,000. 9.78% of the stock is owned by institutional investors.
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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