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.
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.
TRADEMARK VIOLATION NOTICE: “Brokerages Set Novartis AG (NVS) Target Price at $83.19” was posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this report on another site, it was stolen and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://stocknewstimes.com/2018/02/17/brokerages-set-novartis-ag-nvs-target-price-at-83-19.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.
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.