Zacks Investment Research lowered shares of Novartis (NYSE:NVS) from a hold rating to a sell rating in a research report report published on Tuesday.
According to Zacks, “Novartis is mulling strategic options for Alcon which includes retaining the business separation via capital market transactions such as a spin-off or an initial public offering. The company believes that the Alcon division has revived well for now even though a separation via capital markets will create value for shareholders. The loss of patent protection for some of the key drugs in Novartis’ portfolio is a cause of concern. Moreover, Kisqali’s uptake has been slow. Shares of the company have underperformed the industry in the last three months. Nevertheless, Novartis has a strong oncology portfolio of drugs like Afinitor, Exjade, Jakavi, Zykadia, Tasigna, Jadenu, and Kisqali. The recent approval of Kymriah for acute lymphoblastic leukemia is a major boost for Novartis given the potential in the CAR T therapy space.”
NVS has been the subject of several other reports. JPMorgan Chase & Co. restated a neutral rating on shares of Novartis in a report on Tuesday, September 26th. Leerink Swann boosted their price target on shares of Novartis from $89.00 to $91.00 and gave the stock a market perform rating in a report on Monday, October 23rd. Nord/LB restated a neutral rating on shares of Novartis in a report on Tuesday. Bank of America cut shares of Novartis from a neutral rating to an underperform rating in a research note on Wednesday, December 6th. Finally, Barclays cut shares of Novartis from an equal weight rating to an underweight rating in a research note on Wednesday, October 25th. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $85.32.
Novartis (NYSE:NVS) last posted its earnings results on Tuesday, October 24th. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.25 by $0.04. The company had revenue of $12.41 billion during the quarter, compared to the consensus estimate of $12.21 billion. Novartis had a net margin of 13.73% and a return on equity of 15.77%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.23 earnings per share. equities research analysts predict that Novartis will post 4.77 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of the stock. WFG Advisors LP boosted its stake in shares of Novartis by 38.1% in the 2nd quarter. WFG Advisors LP now owns 1,221 shares of the company’s stock valued at $102,000 after purchasing an additional 337 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in shares of Novartis in the 3rd quarter valued at $106,000. Cable Hill Partners LLC boosted its stake in shares of Novartis by 588.8% in the 3rd quarter. Cable Hill Partners LLC now owns 1,295 shares of the company’s stock valued at $112,000 after purchasing an additional 1,107 shares in the last quarter. Harding Loevner LP purchased a new stake in shares of Novartis in the 2nd quarter valued at $146,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Novartis in the 3rd quarter valued at $200,000. 10.85% of the stock is currently owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY WARNING: “Novartis (NVS) Downgraded by Zacks Investment Research” was originally reported by Ticker Report and is the sole property of of Ticker Report. If you are viewing this piece on another site, it was copied illegally and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://www.tickerreport.com/banking-finance/3127121/novartis-nvs-downgraded-by-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Novartis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis and related companies with MarketBeat.com's FREE daily email newsletter.