Brokerages Set Novartis AG (NVS) Target Price at $83.19

Novartis AG (NYSE:NVS) has earned an average rating of “Hold” from the seventeen research firms that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $83.19.

Several research firms recently issued reports on NVS. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novartis in a research note on Tuesday, October 24th. Nord/LB reissued a “neutral” rating on shares of Novartis in a research note on Tuesday, January 2nd. Bank of America lowered Novartis from a “neutral” rating to an “underperform” rating in a research note on Wednesday, December 6th. Leerink Swann lifted their price objective on Novartis from $89.00 to $91.00 and gave the company a “market perform” rating in a research note on Monday, October 23rd. Finally, UBS Group reissued a “neutral” rating on shares of Novartis in a research note on Monday, January 15th.

Hedge funds have recently modified their holdings of the business. WFG Advisors LP lifted its stake in Novartis by 38.1% during the second quarter. WFG Advisors LP now owns 1,221 shares of the company’s stock worth $102,000 after purchasing an additional 337 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new stake in Novartis during the third quarter worth about $106,000. Cable Hill Partners LLC lifted its stake in Novartis by 588.8% during the third quarter. Cable Hill Partners LLC now owns 1,295 shares of the company’s stock worth $112,000 after purchasing an additional 1,107 shares during the last quarter. Pinnacle Wealth Planning Services Inc. bought a new stake in Novartis during the fourth quarter worth about $113,000. Finally, Calton & Associates Inc. bought a new stake in Novartis during the fourth quarter worth about $118,000. 11.06% of the stock is owned by hedge funds and other institutional investors.

Shares of Novartis (NYSE:NVS) traded up $0.28 during midday trading on Wednesday, hitting $86.91. The stock had a trading volume of 983,166 shares, compared to its average volume of 1,780,000. The stock has a market capitalization of $229,350.00, a PE ratio of 26.50, a PEG ratio of 2.02 and a beta of 0.74. Novartis has a one year low of $72.67 and a one year high of $94.19. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 1.21.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Wednesday, January 24th. The company reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.04. The company 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 quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.14 earnings per share. analysts predict that Novartis will post 5.36 EPS for the current fiscal year.

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About Novartis

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.

Analyst Recommendations for Novartis (NYSE:NVS)

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