Novartis AG (NYSE:NVS – Get Free Report) has been given an average recommendation of “Hold” by the sixteen research firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $141.20.
Several equities analysts recently issued reports on NVS shares. Citigroup reissued a “buy” rating on shares of Novartis in a report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a research report on Friday, July 24th.
Novartis Stock Up 0.9%
Novartis (NYSE:NVS – Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $2.41 EPS for the quarter. Novartis had a net margin of 23.29% and a return on equity of 38.56%. The business had revenue of $14.95 billion during the quarter. As a group, research analysts expect that Novartis will post 8.85 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Novartis
Institutional investors have recently added to or reduced their stakes in the stock. Evolution Wealth Management Inc. lifted its position in shares of Novartis by 552.0% during the second 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 last quarter. Atlatl Advisers LLC purchased a new position in shares of Novartis in the 2nd quarter worth approximately $26,000. Archer Investment Corp raised its stake in shares of Novartis by 93.0% during the 1st quarter. Archer Investment Corp now owns 166 shares of the company’s stock worth $25,000 after acquiring an additional 80 shares in the last quarter. Arlington Trust Co LLC bought a new position in shares of Novartis during the 4th quarter worth approximately $25,000. Finally, CrossGen Wealth LLC purchased a new stake in Novartis during the fourth quarter valued at approximately $28,000. Institutional investors own 13.12% of the company’s stock.
About Novartis
Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.
The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.
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