Novartis (NYSE:NVS) Stock Dropped to “Sell” by Deutsche Bank Aktiengesellschaft

Novartis (NYSE:NVS) was downgraded by investment analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, Briefing.com reports.

Several other brokerages also recently weighed in on NVS. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a report on Thursday, October 22nd. Morgan Stanley reissued an “overweight” rating and set a $163.00 target price on shares of Novartis in a research note on Wednesday. The Goldman Sachs Group reiterated a “sell” rating on shares of Novartis in a research report on Monday, September 21st. Royal Bank Of Canada restated a “sector perform” rating on shares of Novartis in a research report on Wednesday. Finally, DZ Bank assumed coverage on shares of Novartis in a research report on Wednesday. They issued a “hold” rating on the stock. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Novartis currently has a consensus rating of “Hold” and an average price target of $152.25.

Novartis Price Performance

NVS traded up $0.54 during trading on Friday, reaching $161.64. 1,065,938 shares of the company were exchanged, compared to its average volume of 2,000,321. The company’s 50-day moving average is $148.32 and its two-hundred day moving average is $151.71. Novartis has a 12-month low of $122.57 and a 12-month high of $170.46. The company has a market cap of $308.43 billion, a price-to-earnings ratio of 30.87, a P/E/G ratio of 2.91 and a beta of 0.41. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 0.98.

Novartis (NYSE:NVS) last issued its earnings results on Tuesday, October 27th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.21. Novartis had a net margin of 18.11% and a return on equity of 41.04%. The firm had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter last year, the business earned $2.25 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. Research analysts forecast that Novartis will post 8.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Novartis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVS. Archer Investment Corp grew its position in Novartis by 93.0% in the 1st quarter. Archer Investment Corp now owns 166 shares of the company’s stock valued at $25,000 after acquiring an additional 80 shares in the last quarter. Highland Investment Advisors LLC acquired a new position in shares of Novartis in the second quarter worth $25,000. Evolution Wealth Management Inc. boosted its stake in shares of Novartis by 552.0% in the 2nd quarter. Evolution Wealth Management Inc. now owns 163 shares of the company’s stock valued at $26,000 after buying an additional 138 shares during the period. Atlatl Advisers LLC acquired a new stake in Novartis in the second quarter valued at approximately $26,000. Finally, Curry Webb Wealth Management LLC acquired a new position in Novartis during the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

About Novartis

Novartis AG is a Switzerland-based pharmaceutical company focused on the discovery, development and commercialization of innovative medicines. The company’s research and commercial activities span areas including cardiovascular, renal and metabolic diseases, immunology, neuroscience, oncology and hematology. Its portfolio includes prescription medicines such as Entresto, Cosentyx, Kisqali, Kesimpta, Leqvio, Pluvicto and Scemblix.

Novartis serves patients and healthcare providers in markets around the world.