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.
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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