Novartis AG (NVS) Upgraded by BidaskClub to “Hold”
Novartis AG (NYSE:NVS) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Saturday.
A number of other brokerages also recently weighed in on NVS. Leerink Swann reiterated a “market perform” rating and issued a $83.00 target price on shares of Novartis AG in a report on Thursday, June 22nd. Morgan Stanley upgraded Novartis AG from an “underweight” rating to an “overweight” rating in a report on Wednesday, July 26th. Credit Suisse Group downgraded Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 target price for the company. in a report on Wednesday, July 5th. Cowen and Company reiterated a “hold” rating on shares of Novartis AG in a report on Tuesday, July 18th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a report on Monday, July 17th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $81.71.
Novartis AG (NYSE NVS) traded up 0.12% during mid-day trading on Friday, reaching $84.97. The company had a trading volume of 990,062 shares. The firm’s 50-day moving average is $83.64 and its 200-day moving average is $78.07. Novartis AG has a one year low of $66.93 and a one year high of $86.90. The firm has a market capitalization of $199.08 billion, a P/E ratio of 31.02 and a beta of 0.73.
Novartis AG (NYSE:NVS) last issued its earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.06. The business had revenue of $12.24 billion during the quarter, compared to the consensus estimate of $12.20 billion. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 earnings per share. On average, equities research analysts anticipate that Novartis AG will post $4.75 earnings per share for the current fiscal year.
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In other news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was purchased at an average price of $15.00 per share, for a total transaction of $4,000,005.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.01% of the company’s stock.
Large investors have recently made changes to their positions in the company. Washington Trust Bank increased its stake in shares of Novartis AG by 0.3% in the second quarter. Washington Trust Bank now owns 4,384 shares of the company’s stock valued at $366,000 after buying an additional 14 shares during the period. North Star Investment Management Corp. increased its stake in shares of Novartis AG by 1.0% in the second quarter. North Star Investment Management Corp. now owns 1,542 shares of the company’s stock valued at $129,000 after buying an additional 16 shares during the period. Ledyard National Bank increased its stake in shares of Novartis AG by 0.9% in the second quarter. Ledyard National Bank now owns 3,428 shares of the company’s stock valued at $286,000 after buying an additional 30 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of Novartis AG by 0.7% in the second quarter. Parkside Financial Bank & Trust now owns 4,492 shares of the company’s stock valued at $375,000 after buying an additional 31 shares during the period. Finally, Enterprise Financial Services Corp increased its stake in shares of Novartis AG by 1.7% in the second quarter. Enterprise Financial Services Corp now owns 2,579 shares of the company’s stock valued at $215,000 after buying an additional 42 shares during the period. Institutional investors and hedge funds own 11.28% of the company’s stock.
Novartis AG Company Profile
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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