Novartis (NYSE:NVS) has received an average recommendation of “Hold” from the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $85.39.
NVS has been the subject of several recent research reports. Nord/LB reiterated a “neutral” rating on shares of Novartis in a research note on Tuesday, January 2nd. JPMorgan Chase reiterated a “neutral” rating on shares of Novartis in a research note on Thursday, January 18th. UBS reiterated a “neutral” rating on shares of Novartis in a research note on Monday, January 15th. Finally, Zacks Investment Research cut Novartis from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVS. Eagle Asset Management Inc. bought a new stake in Novartis during the third quarter worth $613,000. JPMorgan Chase & Co. lifted its stake in Novartis by 5.0% during the third quarter. JPMorgan Chase & Co. now owns 643,008 shares of the company’s stock worth $54,495,000 after purchasing an additional 30,830 shares during the last quarter. Stifel Financial Corp lifted its stake in Novartis by 5.7% during the third quarter. Stifel Financial Corp now owns 270,251 shares of the company’s stock worth $23,225,000 after purchasing an additional 14,629 shares during the last quarter. Private Advisor Group LLC lifted its stake in Novartis by 11.4% during the third quarter. Private Advisor Group LLC now owns 26,518 shares of the company’s stock worth $2,267,000 after purchasing an additional 2,724 shares during the last quarter. Finally, Synovus Financial Corp lifted its stake in Novartis by 3.5% during the third quarter. Synovus Financial Corp now owns 40,362 shares of the company’s stock worth $3,469,000 after purchasing an additional 1,347 shares during the last quarter. Hedge funds and other institutional investors own 10.76% of the company’s stock.
Novartis (NYSE:NVS) last issued its quarterly earnings results on Wednesday, January 24th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.04. The business had revenue of $12.92 billion during the quarter, compared to analysts’ expectations of $12.65 billion. Novartis had a return on equity of 16.03% and a net margin of 15.69%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.14 earnings per share. analysts predict that Novartis will post 5.33 earnings per share for the current year.
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Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.
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