JPMorgan Chase & Co. Reiterates “Neutral” Rating for Novartis (NVS)
Novartis (NYSE:NVS)‘s stock had its “neutral” rating restated by equities researchers at JPMorgan Chase & Co. in a research note issued on Thursday.
Other analysts have also issued research reports about the stock. Nord/LB reiterated a “neutral” rating on shares of Novartis in a research note on Tuesday, January 2nd. Bank of America downgraded shares of Novartis from a “neutral” rating to an “underperform” rating in a research report on Wednesday, December 6th. UBS Group reissued a “neutral” rating on shares of Novartis in a research report on Monday. Leerink Swann raised their price target on shares of Novartis from $89.00 to $91.00 and gave the stock a “market perform” rating in a research report on Monday, October 23rd. Finally, Zacks Investment Research downgraded shares of Novartis from a “buy” rating to a “hold” rating in a research report on Friday, October 6th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. Novartis has a consensus rating of “Hold” and an average target price of $85.32.
Shares of Novartis (NVS) opened at $86.88 on Thursday. The stock has a market cap of $227,480.00, a P/E ratio of 30.92, a PEG ratio of 2.32 and a beta of 0.74. Novartis has a 12 month low of $69.53 and a 12 month high of $87.29. 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 have recently added to or reduced their stakes in NVS. Berkshire Asset Management LLC PA boosted its holdings in Novartis by 56.6% in the fourth quarter. Berkshire Asset Management LLC PA now owns 4,511 shares of the company’s stock worth $379,000 after purchasing an additional 1,630 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in Novartis by 4.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 22,734 shares of the company’s stock worth $1,909,000 after purchasing an additional 868 shares during the period. DAVENPORT & Co LLC boosted its holdings in Novartis by 76.2% in the fourth quarter. DAVENPORT & Co LLC now owns 12,175 shares of the company’s stock worth $1,022,000 after purchasing an additional 5,265 shares during the period. Koshinski Asset Management Inc. acquired a new position in Novartis in the fourth quarter worth $210,000. Finally, Creative Planning boosted its holdings in Novartis by 1.5% in the fourth quarter. Creative Planning now owns 59,777 shares of the company’s stock worth $5,019,000 after purchasing an additional 887 shares during the period. 10.85% of the stock is owned by institutional investors and hedge funds.
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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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