Novartis AG (NVS) Price Target Increased to $91.00 by Analysts at Leerink Swann
Novartis AG (NYSE:NVS) had its target price lifted by analysts at Leerink Swann from $89.00 to $91.00 in a research report issued on Monday. The brokerage presently has a “market perform” rating on the stock. Leerink Swann’s target price would indicate a potential upside of 6.13% from the stock’s current price.
Several other brokerages have also recently commented on NVS. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a report on Tuesday, September 5th. BidaskClub upgraded Novartis AG from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Cowen and Company reiterated a “hold” rating on shares of Novartis AG in a report on Tuesday, July 18th. Finally, Zacks Investment Research cut Novartis AG from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. Novartis AG presently has an average rating of “Hold” and a consensus target price of $85.28.
Shares of Novartis AG (NYSE:NVS) traded up 0.31% during mid-day trading on Monday, hitting $86.01. 3,928,966 shares of the company were exchanged. Novartis AG has a 12-month low of $66.93 and a 12-month high of $86.90. The firm has a 50 day moving average of $85.60 and a 200 day moving average of $82.21. The company has a market capitalization of $201.51 billion, a price-to-earnings ratio of 31.40 and a beta of 0.73.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Flagship Harbor Advisors LLC acquired a new position in Novartis AG in the third quarter valued at approximately $200,000. Adviser Investments LLC acquired a new position in shares of Novartis AG during the third quarter worth approximately $583,000. Augustine Asset Management Inc. acquired a new position in shares of Novartis AG during the third quarter worth approximately $735,000. Bartlett & Co. LLC raised its position in shares of Novartis AG by 1.6% during the third quarter. Bartlett & Co. LLC now owns 473,081 shares of the company’s stock worth $40,614,000 after purchasing an additional 7,249 shares during the period. Finally, Whittier Trust Co. raised its position in shares of Novartis AG by 0.9% during the third quarter. Whittier Trust Co. now owns 78,148 shares of the company’s stock worth $6,709,000 after purchasing an additional 730 shares during the period. 10.93% of the stock is currently owned by hedge funds and other institutional investors.
About Novartis AG
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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