Novartis (NYSE:NVS) Cut to Neutral at Oddo Bhf

Novartis (NYSE:NVS) was downgraded by Oddo Bhf from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, The Fly reports.

NVS has been the topic of several other research reports. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Novartis in a research note on Wednesday, August 12th. Morgan Stanley raised Novartis from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, September 1st. UBS Group raised Novartis from a “neutral” rating to a “buy” rating in a research note on Thursday, September 10th. Citigroup raised Novartis from a “neutral” rating to a “buy” rating in a research note on Monday, June 15th. Finally, ValuEngine lowered Novartis from a “hold” rating to a “sell” rating in a research note on Friday, June 5th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $108.00.

NVS traded down $0.63 during trading on Wednesday, reaching $88.29. The company’s stock had a trading volume of 8,952 shares, compared to its average volume of 2,169,086. Novartis has a 52-week low of $69.18 and a 52-week high of $99.84. The company’s fifty day moving average price is $86.51 and its 200-day moving average price is $85.36. The company has a market capitalization of $203.51 billion, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 1.89 and a beta of 0.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.58 and a current ratio of 0.81.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $1.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.05. Novartis had a return on equity of 24.14% and a net margin of 14.96%. The company had revenue of $11.35 billion for the quarter, compared to analyst estimates of $11.77 billion. During the same quarter in the previous year, the company earned $1.34 EPS. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. Equities analysts predict that Novartis will post 5.72 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of the stock. Atria Investments LLC lifted its stake in Novartis by 14.2% in the 2nd quarter. Atria Investments LLC now owns 67,674 shares of the company’s stock valued at $5,911,000 after buying an additional 8,440 shares in the last quarter. FinTrust Capital Advisors LLC lifted its stake in Novartis by 20.9% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 1,110 shares of the company’s stock valued at $97,000 after buying an additional 192 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Novartis by 2.6% in the 2nd quarter. Principal Financial Group Inc. now owns 1,477,433 shares of the company’s stock valued at $129,039,000 after buying an additional 37,010 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in Novartis by 20.9% in the 2nd quarter. Neuberger Berman Group LLC now owns 2,492,252 shares of the company’s stock valued at $217,686,000 after buying an additional 431,326 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in Novartis by 23.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,671 shares of the company’s stock valued at $495,000 after buying an additional 1,061 shares in the last quarter. 10.37% of the stock is currently owned by hedge funds and other institutional investors.

About Novartis

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Analyst Recommendations for Novartis (NYSE:NVS)

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