J P Morgan Chase & Co Reaffirms Neutral Rating for Novartis AG (NVS)
Novartis AG (NYSE:NVS)‘s stock had its “neutral” rating reaffirmed by investment analysts at J P Morgan Chase & Co in a research report issued to clients and investors on Tuesday.
A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Novartis AG from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Credit Suisse Group downgraded shares of Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price target on the stock. in a report on Wednesday, July 5th. Morgan Stanley raised shares of Novartis AG from an “underweight” rating to an “overweight” rating in a report on Wednesday, July 26th. Leerink Swann reissued a “market perform” rating and issued a $83.00 price target on shares of Novartis AG in a report on Thursday, June 22nd. Finally, Cowen and Company set a $77.00 price target on shares of Novartis AG and gave the stock a “hold” rating in a report on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. Novartis AG has an average rating of “Hold” and a consensus price target of $85.12.
Novartis AG (NYSE NVS) traded down 1.01% during mid-day trading on Tuesday, hitting $85.36. 745,909 shares of the stock were exchanged. The stock’s 50-day moving average is $84.30 and its 200 day moving average is $80.50. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90. The company has a market capitalization of $199.99 billion, a PE ratio of 31.16 and a beta of 0.74.
Novartis AG (NYSE:NVS) last issued its quarterly 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 company had revenue of $12.24 billion for the quarter, compared to the consensus estimate of $12.20 billion. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.23 EPS. On average, analysts anticipate that Novartis AG will post $4.75 EPS for the current year.
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In other Novartis AG news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were acquired at an average cost of $15.00 per share, with a total value of $4,000,005.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.01% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVS. City Holding Co. lifted its holdings in shares of Novartis AG by 4.6% in the second quarter. City Holding Co. now owns 1,217 shares of the company’s stock worth $102,000 after buying an additional 54 shares in the last quarter. WFG Advisors LP lifted its holdings in shares of Novartis AG by 38.1% in the second quarter. WFG Advisors LP now owns 1,221 shares of the company’s stock worth $102,000 after buying an additional 337 shares in the last quarter. TCI Wealth Advisors Inc. lifted its holdings in shares of Novartis AG by 20.0% in the first quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock worth $103,000 after buying an additional 230 shares in the last quarter. Archford Capital Strategies LLC lifted its holdings in shares of Novartis AG by 72.3% in the first quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock worth $110,000 after buying an additional 621 shares in the last quarter. Finally, Kernodle & Katon Asset Management Group LLC lifted its holdings in shares of Novartis AG by 3.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock worth $111,000 after buying an additional 49 shares in the last quarter. 10.93% of the stock is currently owned by institutional investors and hedge funds.
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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