ValuEngine cut shares of Novartis (NYSE:NVS) from a hold rating to a sell rating in a report issued on Thursday, ValuEngine reports.

A number of other brokerages have also issued reports on NVS. JPMorgan Chase & Co. restated a sell rating on shares of Novartis in a research report on Friday, July 5th. Jefferies Financial Group restated a buy rating on shares of Novartis in a research report on Thursday, August 29th. Kepler Capital Markets lowered shares of Novartis from a buy rating to a hold rating in a research report on Tuesday, July 23rd. Zacks Investment Research lowered shares of Novartis from a buy rating to a hold rating and set a $100.00 target price on the stock. in a research report on Friday, July 19th. Finally, Argus increased their target price on shares of Novartis to $105.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Five analysts have rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Novartis currently has an average rating of Hold and an average target price of $93.29.

NVS traded down $2.38 on Thursday, reaching $87.11. The company had a trading volume of 1,787,517 shares, compared to its average volume of 1,423,010. Novartis has a fifty-two week low of $71.86 and a fifty-two week high of $95.00. The stock has a market cap of $205.32 billion, a P/E ratio of 17.11, a P/E/G ratio of 2.00 and a beta of 0.58. The company’s fifty day moving average is $90.27 and its 200 day moving average is $88.64. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.74 and a current ratio of 0.94.

Novartis (NYSE:NVS) last announced its earnings results on Thursday, July 18th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.14. Novartis had a net margin of 23.27% and a return on equity of 18.55%. The firm had revenue of $11.76 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same quarter in the prior year, the business posted $1.29 EPS. The business’s revenue was up 3.7% compared to the same quarter last year. On average, sell-side analysts expect that Novartis will post 5.15 EPS for the current year.

Institutional investors have recently modified their holdings of the company. River & Mercantile Asset Management LLP bought a new position in Novartis in the 2nd quarter valued at approximately $832,000. Princeton Global Asset Management LLC lifted its stake in Novartis by 2.5% in the 2nd quarter. Princeton Global Asset Management LLC now owns 11,053 shares of the company’s stock valued at $1,009,000 after purchasing an additional 274 shares during the last quarter. Hancock Whitney Corp bought a new position in Novartis in the 2nd quarter valued at approximately $201,000. Rehmann Capital Advisory Group lifted its stake in Novartis by 22.1% in the 2nd quarter. Rehmann Capital Advisory Group now owns 5,289 shares of the company’s stock valued at $483,000 after purchasing an additional 959 shares during the last quarter. Finally, EP Wealth Advisors LLC lifted its stake in Novartis by 147.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 6,026 shares of the company’s stock valued at $550,000 after purchasing an additional 3,588 shares during the last quarter. 11.21% of the stock is owned by 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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