Novartis (NYSE:NVS) Cut to “Reduce” at HSBC

Novartis (NYSE:NVS) was downgraded by equities research analysts at HSBC from a “hold” rating to a “reduce” rating in a note issued to investors on Wednesday, Marketbeat.com reports.

Several other research analysts also recently issued reports on the stock. Jefferies Financial Group downgraded shares of Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $121.00 target price (up previously from $119.00) on shares of Novartis in a research note on Thursday, September 5th. BMO Capital Markets upped their target price on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Erste Group Bank reissued a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Finally, Bank of America cut shares of Novartis from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $121.50.

Novartis Trading Down 0.2 %

NYSE:NVS opened at $104.57 on Wednesday. Novartis has a one year low of $92.35 and a one year high of $120.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90. The company’s 50-day simple moving average is $110.25 and its 200 day simple moving average is $110.31. The firm has a market capitalization of $213.73 billion, a P/E ratio of 12.14, a PEG ratio of 1.51 and a beta of 0.56.

Novartis (NYSE:NVS) last issued its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.12. The firm had revenue of $12.82 billion for the quarter, compared to the consensus estimate of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same quarter in the prior year, the firm posted $1.74 earnings per share. As a group, analysts forecast that Novartis will post 7.66 EPS for the current fiscal year.

Institutional Trading of Novartis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Founders Financial Securities LLC increased its holdings in Novartis by 3.4% during the second quarter. Founders Financial Securities LLC now owns 2,832 shares of the company’s stock valued at $301,000 after buying an additional 94 shares during the last quarter. Steigerwald Gordon & Koch Inc. increased its holdings in Novartis by 4.8% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock valued at $241,000 after buying an additional 95 shares during the last quarter. Centaurus Financial Inc. increased its holdings in Novartis by 1.7% during the third quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock valued at $659,000 after buying an additional 98 shares during the last quarter. Portside Wealth Group LLC increased its holdings in Novartis by 3.4% during the second quarter. Portside Wealth Group LLC now owns 3,000 shares of the company’s stock valued at $319,000 after buying an additional 99 shares during the last quarter. Finally, Essex LLC increased its holdings in Novartis by 4.3% during the second quarter. Essex LLC now owns 2,450 shares of the company’s stock valued at $261,000 after buying an additional 100 shares during the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

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.