UBS Group Reaffirms “Neutral” Rating for Novartis (NVS)
Novartis (NYSE:NVS)‘s stock had its “neutral” rating reissued by investment analysts at UBS Group in a report released on Monday, www.boersen-zeitung.de reports.
Other equities analysts have also issued reports about the company. Zacks Investment Research raised Novartis from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research report on Tuesday, September 19th. Leerink Swann upped their target price on Novartis from $89.00 to $91.00 and gave the company a “market perform” rating in a research report on Monday, October 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Novartis in a research report on Tuesday, September 26th. Finally, Nord/LB reaffirmed a “neutral” rating on shares of Novartis in a research report on Tuesday, January 2nd. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $85.32.
Shares of Novartis (NYSE:NVS) traded up $0.98 on Monday, hitting $86.65. The company’s stock had a trading volume of 1,016,500 shares, compared to its average volume of 993,122. Novartis has a one year low of $69.53 and a one year high of $86.90. The firm has a market cap of $226,760.00, a price-to-earnings ratio of 30.84, a price-to-earnings-growth ratio of 2.38 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.81 and a current ratio of 1.08.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Cetera Investment Advisers bought a new position in Novartis during the 2nd quarter worth $241,000. Bartlett & Co. LLC grew its stake in Novartis by 1.6% during the 3rd quarter. Bartlett & Co. LLC now owns 473,081 shares of the company’s stock worth $40,614,000 after buying an additional 7,249 shares during the last quarter. Capital Bank & Trust Co grew its stake in Novartis by 5.5% during the 3rd quarter. Capital Bank & Trust Co now owns 138,207 shares of the company’s stock worth $11,865,000 after buying an additional 7,201 shares during the last quarter. Cedar Hill Associates LLC bought a new position in Novartis during the 3rd quarter worth $248,000. Finally, Steward Partners Investment Advisory LLC bought a new position in Novartis during the 3rd quarter worth $1,245,000. Institutional investors and hedge funds own 10.85% of the company’s stock.
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Novartis 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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