Novartis AG (NYSE:NVS) Receives $120.70 Consensus PT from Analysts

by · The Markets Daily

Shares of Novartis AG (NYSE:NVS – Get Free Report) have been given a consensus recommendation of “Reduce” by the eight analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $120.70.

Several equities research analysts have recently commented on the company. Jefferies Financial Group cut Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Bank of America cut shares of Novartis from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $135.00 to $130.00 in a research note on Wednesday, September 11th. The Goldman Sachs Group reiterated a “neutral” rating and set a $121.00 price target (up from $119.00) on shares of Novartis in a research note on Thursday, September 5th. Barclays raised shares of Novartis to a “strong sell” rating in a report on Monday, June 24th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Novartis in a report on Friday, July 19th.

Read Our Latest Research Report on NVS

Institutional Trading of Novartis

Institutional investors have recently added to or reduced their stakes in the stock. Founders Financial Securities LLC grew its position in Novartis by 3.4% in the second quarter. Founders Financial Securities LLC now owns 2,832 shares of the company’s stock valued at $301,000 after acquiring an additional 94 shares in the last quarter. NBC Securities Inc. increased its stake in Novartis by 0.9% during the 2nd quarter. NBC Securities Inc. now owns 10,492 shares of the company’s stock worth $1,116,000 after buying an additional 97 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Novartis by 5.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company’s stock worth $196,000 after buying an additional 98 shares in the last quarter. Portside Wealth Group LLC boosted its position in Novartis by 3.4% in the 2nd quarter. Portside Wealth Group LLC now owns 3,000 shares of the company’s stock valued at $319,000 after buying an additional 99 shares during the last quarter. Finally, Evermay Wealth Management LLC grew its stake in shares of Novartis by 9.3% during the first quarter. Evermay Wealth Management LLC now owns 1,176 shares of the company’s stock valued at $114,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Down 0.1 %

Shares of NYSE:NVS opened at $113.76 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.72. The stock has a market cap of $232.53 billion, a P/E ratio of 15.35, a P/E/G ratio of 1.71 and a beta of 0.57. Novartis has a 1-year low of $92.19 and a 1-year high of $120.92. The firm has a fifty day moving average price of $115.49 and a 200 day moving average price of $106.81.

Novartis (NYSE:NVS – Get Free Report) last released its quarterly earnings results on Thursday, July 18th. The company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. The firm had revenue of $12.87 billion for the quarter, compared to analyst estimates of $12.24 billion. Novartis had a return on equity of 34.56% and a net margin of 33.76%. During the same quarter last year, the company posted $1.83 earnings per share. Sell-side analysts predict that Novartis will post 7.5 EPS for the current year.

About Novartis

(Get Free Report

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.

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