Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Novartis AG from a hold rating to a sell rating in a research report on Wednesday, September 21st. Chardan Capital started coverage on shares of Novartis AG in a research report on Tuesday, September 20th. They set a buy rating and a $95.00 price objective for the company. JPMorgan Chase & Co. reiterated a buy rating on shares of Novartis AG in a research report on Tuesday, September 13th. Argus reiterated a hold rating on shares of Novartis AG in a research report on Thursday, August 25th. Finally, Bank of America Corp. reiterated a hold rating on shares of Novartis AG in a research report on Tuesday, July 12th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $91.83.
Novartis AG (NYSE:NVS) opened at 78.96 on Wednesday. The company has a market capitalization of $188.02 billion, a price-to-earnings ratio of 28.19 and a beta of 0.58. The firm has a 50-day moving average price of $80.36 and a 200-day moving average price of $78.69. Novartis AG has a 12 month low of $69.90 and a 12 month high of $95.11.
Novartis AG (NYSE:NVS) last issued its quarterly earnings data on Tuesday, July 19th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.05. The firm earned $12.47 billion during the quarter, compared to the consensus estimate of $12.33 billion. Novartis AG had a net margin of 13.84% and a return on equity of 15.33%. During the same period last year, the business posted $1.25 earnings per share. On average, equities analysts anticipate that Novartis AG will post $4.72 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of NVS. Primecap Management Co. CA boosted its stake in Novartis AG by 0.8% in the first quarter. Primecap Management Co. CA now owns 20,938,858 shares of the company’s stock worth $1,516,811,000 after buying an additional 170,750 shares during the last quarter. Franklin Resources Inc. boosted its stake in Novartis AG by 22.4% in the first quarter. Franklin Resources Inc. now owns 11,998,737 shares of the company’s stock worth $869,189,000 after buying an additional 2,195,618 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Novartis AG by 1.2% in the second quarter. Fisher Asset Management LLC now owns 6,363,641 shares of the company’s stock worth $523,791,000 after buying an additional 76,542 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in Novartis AG by 6.8% in the second quarter. Loomis Sayles & Co. L P now owns 5,601,211 shares of the company’s stock worth $462,156,000 after buying an additional 358,263 shares during the last quarter. Finally, Mawer Investment Management Ltd. boosted its stake in Novartis AG by 10.4% in the second quarter. Mawer Investment Management Ltd. now owns 3,743,858 shares of the company’s stock worth $308,906,000 after buying an additional 351,773 shares during the last quarter. 9.78% of the stock is currently owned by hedge funds and other institutional investors.
About Novartis AG
Novartis AG is a holding company. The Company specializes in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals, including eye care products. Its portfolio includes medicines, eye care and generic pharmaceuticals. The Company’s segments include Pharmaceuticals, Alcon and Sandoz.
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