Novartis (NYSE:NVS) was downgraded by investment analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research report issued on Wednesday, MarketBeat Ratings reports.

Several other equities research analysts also recently commented on the company. Zacks Investment Research raised Novartis from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis in a research note on Tuesday, August 29th. Leerink Swann boosted their price target on Novartis from $89.00 to $91.00 and gave the stock a “market perform” rating in a research note on Monday, October 23rd. Barclays cut Novartis from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 25th. Finally, BidaskClub upgraded Novartis from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $85.32.

Novartis (NVS) traded down $0.66 during trading on Wednesday, reaching $83.18. The company’s stock had a trading volume of 1,256,817 shares, compared to its average volume of 2,275,874. The company has a quick ratio of 0.81, a current ratio of 1.08 and a debt-to-equity ratio of 0.32. Novartis has a twelve month low of $66.93 and a twelve month high of $86.90. The company has a market capitalization of $200,791.69, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 2.71 and a beta of 0.73.

Novartis (NYSE:NVS) last released its earnings results on Tuesday, October 24th. The company reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.04. Novartis had a return on equity of 15.77% and a net margin of 13.73%. The business had revenue of $12.41 billion for the quarter, compared to the consensus estimate of $12.21 billion. During the same period in the previous year, the company posted $1.23 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. equities analysts expect that Novartis will post 4.75 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of NVS. Cetera Investment Advisers purchased a new stake in Novartis during the second quarter valued at $241,000. Bartlett & Co. LLC increased its position in Novartis by 1.6% during the third quarter. Bartlett & Co. LLC now owns 473,081 shares of the company’s stock valued at $40,614,000 after acquiring an additional 7,249 shares during the last quarter. GFS Advisors LLC increased its position in Novartis by 6.5% during the second quarter. GFS Advisors LLC now owns 21,314 shares of the company’s stock valued at $1,779,000 after acquiring an additional 1,300 shares during the last quarter. Schafer Cullen Capital Management Inc. increased its position in Novartis by 9.2% during the second quarter. Schafer Cullen Capital Management Inc. now owns 2,780,606 shares of the company’s stock valued at $232,097,000 after acquiring an additional 233,292 shares during the last quarter. Finally, Mechanics Bank Trust Department purchased a new stake in Novartis during the second quarter valued at $389,000. Hedge funds and other institutional investors own 10.87% of the company’s stock.

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About Novartis

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.

Analyst Recommendations for Novartis (NYSE:NVS)

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