ValuEngine Upgrades Novartis (NYSE:NVS) to Hold

ValuEngine upgraded shares of Novartis (NYSE:NVS) from a sell rating to a hold rating in a research note published on Saturday morning, ValuEngine reports.

NVS has been the subject of several other research reports. Jefferies Financial Group reissued a buy rating on shares of Novartis in a research report on Thursday, August 29th. Zacks Investment Research lowered Novartis from a buy rating to a hold rating and set a $100.00 price objective for the company. in a research report on Friday, July 19th. Argus raised their price objective on Novartis to $105.00 and gave the company a buy rating in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Kepler Capital Markets lowered Novartis from a buy rating to a hold rating in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. reissued a sell rating on shares of Novartis in a research report on Friday, July 5th. Four research analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $93.29.

Shares of Novartis stock opened at $86.97 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $198.38 billion, a P/E ratio of 17.09, a P/E/G ratio of 1.97 and a beta of 0.59. The business has a fifty day simple moving average of $87.11 and a two-hundred day simple moving average of $87.45. Novartis has a 12 month low of $72.19 and a 12 month high of $95.00.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.37 by $0.04. The business had revenue of $12.17 billion during the quarter, compared to analyst estimates of $11.67 billion. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.32 earnings per share. Analysts predict that Novartis will post 5.12 earnings per share for the current year.

Large investors have recently modified their holdings of the company. Elefante Mark B increased its holdings in shares of Novartis by 3.6% during the second quarter. Elefante Mark B now owns 8,744 shares of the company’s stock valued at $799,000 after acquiring an additional 300 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Novartis by 16.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,566 shares of the company’s stock worth $143,000 after buying an additional 220 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in Novartis by 119.0% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,084 shares of the company’s stock worth $99,000 after buying an additional 589 shares in the last quarter. Penbrook Management LLC increased its holdings in Novartis by 18.2% in the 2nd quarter. Penbrook Management LLC now owns 6,500 shares of the company’s stock worth $594,000 after buying an additional 1,000 shares in the last quarter. Finally, Bangor Savings Bank bought a new stake in Novartis in the 3rd quarter worth about $212,000. Hedge funds and other institutional investors own 11.18% of the company’s stock.

About Novartis

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Analyst Recommendations for Novartis (NYSE:NVS)

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