Novartis AG (NVS) Given Average Rating of “Hold” by Analysts
Novartis AG (NYSE:NVS) has been given a consensus recommendation of “Hold” by the seventeen analysts that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $83.19.
Several analysts have recently weighed in on the company. JPMorgan Chase & Co. restated a “neutral” rating on shares of Novartis in a report on Thursday, January 18th. UBS Group restated a “neutral” rating on shares of Novartis in a report on Monday, January 15th. Zacks Investment Research lowered Novartis from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Nord/LB restated a “neutral” rating on shares of Novartis in a report on Tuesday, January 2nd. Finally, Bank of America lowered Novartis from a “neutral” rating to an “underperform” rating in a report on Wednesday, December 6th.
Several hedge funds and other institutional investors have recently made changes to their positions in NVS. Parnassus Investments CA lifted its holdings in shares of Novartis by 18.5% during the third quarter. Parnassus Investments CA now owns 9,447,817 shares of the company’s stock valued at $811,095,000 after purchasing an additional 1,477,168 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Novartis during the second quarter valued at $29,576,000. BlackRock Inc. lifted its holdings in shares of Novartis by 8.2% during the fourth quarter. BlackRock Inc. now owns 4,015,562 shares of the company’s stock valued at $337,146,000 after purchasing an additional 305,221 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Novartis by 18.8% during the fourth quarter. Renaissance Technologies LLC now owns 1,716,100 shares of the company’s stock valued at $144,084,000 after purchasing an additional 271,900 shares during the last quarter. Finally, Boston Partners lifted its holdings in shares of Novartis by 14.9% during the third quarter. Boston Partners now owns 1,857,435 shares of the company’s stock valued at $159,461,000 after purchasing an additional 240,573 shares during the last quarter. 10.96% of the stock is owned by institutional investors and hedge funds.
Novartis (NYSE:NVS) last announced its quarterly earnings data on Wednesday, January 24th. The company reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.04. The business had revenue of $12.92 billion during the quarter, compared to analyst estimates of $12.65 billion. Novartis had a return on equity of 16.03% and a net margin of 15.69%. The company’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 earnings per share. equities research analysts expect that Novartis will post 5.36 EPS for the current year.
COPYRIGHT VIOLATION WARNING: “Novartis AG (NVS) Given Average Rating of “Hold” by Analysts” was originally published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this story on another site, it was stolen and reposted in violation of US and international copyright & trademark law. The legal version of this story can be accessed at https://theolympiareport.com/2018/02/21/novartis-ag-nvs-given-average-rating-of-hold-by-analysts.html.
Novartis Company Profile
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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.