Novartis AG (NVS) Raised to “Overweight” at Morgan Stanley
Morgan Stanley upgraded shares of Novartis AG (NYSE:NVS) from an underweight rating to an overweight rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports.
Several other equities research analysts have also recently weighed in on NVS. UBS AG reiterated a neutral rating on shares of Novartis AG in a report on Tuesday, May 30th. J P Morgan Chase & Co reiterated a neutral rating on shares of Novartis AG in a report on Thursday, June 8th. Cowen and Company reiterated a hold rating on shares of Novartis AG in a report on Tuesday, July 18th. TheStreet upgraded Novartis AG from a c+ rating to a b rating in a report on Friday, June 2nd. Finally, Vetr cut Novartis AG from a strong-buy rating to a buy rating and set a $78.32 price objective for the company. in a report on Thursday, April 6th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $81.71.
Shares of Novartis AG (NVS) opened at 84.75 on Wednesday. The company has a market capitalization of $198.56 billion, a P/E ratio of 30.94 and a beta of 0.73. The firm has a 50-day moving average price of $83.39 and a 200-day moving average price of $77.82. Novartis AG has a one year low of $66.93 and a one year high of $86.90.
Novartis AG (NYSE:NVS) last released its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.06. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The business had revenue of $12.24 billion during the quarter, compared to analysts’ expectations of $12.20 billion. During the same quarter last year, the business posted $1.23 EPS. The business’s revenue was down 1.8% on a year-over-year basis. Equities analysts forecast that Novartis AG will post $4.78 earnings per share for the current year.
In related news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of Novartis AG stock in a transaction that occurred on Wednesday, July 5th. The stock was bought at an average price of $15.00 per share, with a total value of $4,000,005.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 0.01% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Howe & Rusling Inc. raised its position in Novartis AG by 192.2% in the first quarter. Howe & Rusling Inc. now owns 1,341 shares of the company’s stock worth $100,000 after buying an additional 882 shares during the period. City Holding Co. raised its position in Novartis AG by 4.6% in the second quarter. City Holding Co. now owns 1,217 shares of the company’s stock worth $102,000 after buying an additional 54 shares during the period. TCI Wealth Advisors Inc. raised its position in Novartis AG by 20.0% in the first quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock worth $103,000 after buying an additional 230 shares during the period. Archford Capital Strategies LLC raised its position in Novartis AG by 72.3% in the first quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock worth $110,000 after buying an additional 621 shares during the period. Finally, Kernodle & Katon Asset Management Group LLC raised its position in Novartis AG by 3.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock worth $111,000 after buying an additional 49 shares during the period. 11.30% of the stock is owned by institutional investors.
About Novartis AG
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 AG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis AG and related companies with Analyst Ratings Network's FREE daily email newsletter.