Cowen Upgrades Novartis (NVS) to Outperform

Novartis (NYSE:NVS) was upgraded by Cowen from a “market perform” rating to an “outperform” rating in a research report issued on Monday, The Fly reports.

A number of other equities analysts have also commented on the stock. Goldman Sachs Group upgraded shares of Novartis from a “neutral” rating to a “conviction-buy” rating in a research report on Friday, November 16th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Novartis in a research report on Tuesday, November 6th. Wolfe Research assumed coverage on shares of Novartis in a research report on Tuesday, October 23rd. They issued an “outperform” rating on the stock. Guggenheim assumed coverage on shares of Novartis in a research report on Monday, October 8th. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research upgraded shares of Novartis from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Tuesday, September 18th. Eleven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $84.86.

Novartis stock opened at $88.03 on Monday. Novartis has a fifty-two week low of $72.30 and a fifty-two week high of $94.19. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.20 and a quick ratio of 0.96. The firm has a market cap of $203.35 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 1.95 and a beta of 0.73.

Novartis (NYSE:NVS) last posted its earnings results on Thursday, October 18th. The company reported $1.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.01. The business had revenue of $12.78 billion for the quarter, compared to analysts’ expectations of $12.88 billion. Novartis had a net margin of 25.98% and a return on equity of 15.81%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 earnings per share. Equities analysts forecast that Novartis will post 5.17 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Belpointe Asset Management LLC acquired a new position in Novartis in the third quarter valued at approximately $131,000. Morgan Stanley lifted its holdings in Novartis by 1.2% in the third quarter. Morgan Stanley now owns 2,938,605 shares of the company’s stock valued at $253,191,000 after buying an additional 34,696 shares during the period. Rehmann Capital Advisory Group lifted its holdings in Novartis by 8,396.0% in the third quarter. Rehmann Capital Advisory Group now owns 136,956 shares of the company’s stock valued at $1,589,000 after buying an additional 135,344 shares during the period. Griffin Asset Management Inc. lifted its holdings in Novartis by 1.4% in the third quarter. Griffin Asset Management Inc. now owns 56,725 shares of the company’s stock valued at $4,887,000 after buying an additional 775 shares during the period. Finally, Bridges Investment Management Inc. acquired a new position in Novartis in the third quarter valued at approximately $411,000. Institutional investors own 10.99% of the company’s stock.

Novartis Company Profile

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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Analyst Recommendations for Novartis (NYSE:NVS)

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