Novartis AG (NYSE:NVS) Given Average Recommendation of “Reduce” by Brokerages

Novartis AG (NYSE:NVS) has been assigned a consensus recommendation of “Reduce” from the eight ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $121.50.

A number of brokerages have recently issued reports on NVS. BMO Capital Markets boosted their price objective on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Jefferies Financial Group cut Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Bank of America cut Novartis from a “buy” rating to a “neutral” rating and cut their price target for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $121.00 price target (up from $119.00) on shares of Novartis in a research note on Thursday, September 5th.

Novartis Trading Up 1.1 %

Shares of NYSE:NVS opened at $110.52 on Tuesday. Novartis has a 12-month low of $92.35 and a 12-month high of $120.92. The stock has a market cap of $225.90 billion, a PE ratio of 12.84, a P/E/G ratio of 1.59 and a beta of 0.58. The business has a 50 day moving average of $115.58 and a 200-day moving average of $109.47. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Novartis had a return on equity of 34.80% and a net margin of 35.96%. The company had revenue of $12.82 billion during the quarter, compared to analysts’ expectations of $12.62 billion. During the same quarter in the previous year, the company posted $1.74 earnings per share. As a group, equities research analysts forecast that Novartis will post 7.56 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Clearstead Trust LLC increased its holdings in shares of Novartis by 73.5% during the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after buying an additional 114 shares in the last quarter. New Millennium Group LLC acquired a new position in shares of Novartis during the second quarter worth $28,000. Lynx Investment Advisory acquired a new position in shares of Novartis during the second quarter worth $29,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of Novartis during the second quarter worth $30,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of Novartis during the second quarter worth $30,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

About Novartis

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.