Shares of Novartis AG (NYSE:NVS) have been given an average rating of “Hold” by the eighteen research firms that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $90.94.
A number of brokerages have commented on NVS. JPMorgan Chase & Co. restated a “neutral” rating on shares of Novartis in a research note on Thursday, October 11th. Cowen upgraded shares of Novartis from a “market perform” rating to an “outperform” rating and set a $88.03 target price on the stock in a research report on Sunday, December 2nd. Zacks Investment Research upgraded shares of Novartis from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research report on Tuesday, December 18th. Barclays lowered shares of Novartis from an “equal weight” rating to a “sell” rating in a research report on Friday, December 7th. Finally, Credit Suisse Group lowered shares of Novartis to a “sell” rating in a research report on Thursday, December 20th.
Shares of NYSE:NVS traded down $0.50 during midday trading on Friday, hitting $87.61. 89,931 shares of the stock were exchanged, compared to its average volume of 2,352,422. The company has a current ratio of 1.20, a quick ratio of 0.96 and a debt-to-equity ratio of 0.29. Novartis has a 52-week low of $72.30 and a 52-week high of $94.19. The firm has a market cap of $200.88 billion, a price-to-earnings ratio of 18.22, a P/E/G ratio of 1.85 and a beta of 0.73.
Several institutional investors have recently modified their holdings of the company. Bourgeon Capital Management LLC grew its stake in Novartis by 5.3% in the 3rd quarter. Bourgeon Capital Management LLC now owns 69,463 shares of the company’s stock worth $5,985,000 after buying an additional 3,490 shares in the last quarter. Raymond James Trust N.A. grew its position in shares of Novartis by 41.8% in the 3rd quarter. Raymond James Trust N.A. now owns 47,271 shares of the company’s stock worth $4,072,000 after buying an additional 13,938 shares during the period. Patton Albertson Miller Group LLC purchased a new stake in shares of Novartis in the 3rd quarter worth about $211,000. Aperio Group LLC grew its position in shares of Novartis by 12.4% in the 3rd quarter. Aperio Group LLC now owns 964,474 shares of the company’s stock worth $83,099,000 after buying an additional 106,560 shares during the period. Finally, First Fiduciary Investment Counsel Inc. grew its position in shares of Novartis by 0.3% in the 2nd quarter. First Fiduciary Investment Counsel Inc. now owns 227,371 shares of the company’s stock worth $17,176,000 after buying an additional 735 shares during the period. 11.18% of the stock is owned by institutional investors.
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.
Featured Story: What impact do institutional investors have on markets?
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.