Novartis AG (NVS) Stock Rating Lowered by BidaskClub
Novartis AG (NYSE:NVS) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Friday.
Other equities analysts have also issued reports about the stock. TheStreet raised shares of Novartis AG from a “c+” rating to a “b” rating in a research report on Friday, June 2nd. Barclays PLC raised shares of Novartis AG from an “underweight” rating to an “equal weight” rating in a research report on Thursday, June 22nd. Zacks Investment Research raised shares of Novartis AG from a “strong sell” rating to a “hold” rating in a research report on Monday, May 1st. Vetr lowered shares of Novartis AG from a “buy” rating to a “hold” rating and set a $78.32 price target for the company. in a research report on Tuesday, April 25th. Finally, Cowen and Company set a $77.00 price target on shares of Novartis AG and gave the stock a “hold” rating in a research report on Tuesday, July 11th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $83.56.
Shares of Novartis AG (NYSE:NVS) opened at 83.18 on Friday. The company has a market capitalization of $194.88 billion, a price-to-earnings ratio of 30.37 and a beta of 0.73. The company’s 50-day moving average is $84.25 and its 200 day moving average is $78.58. Novartis AG has a 12 month low of $66.93 and a 12 month high of $86.90.
Novartis AG (NYSE:NVS) last announced its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.06. The firm had revenue of $12.24 billion during the quarter, compared to analyst estimates of $12.20 billion. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. Novartis AG’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the firm posted $1.23 EPS. On average, equities research analysts anticipate that Novartis AG will post $4.73 earnings per share for the current year.
ILLEGAL ACTIVITY NOTICE: This piece was first published by Watch List News and is the property of of Watch List News. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this piece can be read at https://www.watchlistnews.com/novartis-ag-nvs-stock-rating-lowered-by-bidaskclub/1471509.html.
In other news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was purchased at an average cost of $15.00 per share, with a total value of $4,000,005.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.01% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the stock. E&G Advisors LP raised its position in Novartis AG by 27.0% in the first quarter. E&G Advisors LP now owns 10,350 shares of the company’s stock valued at $769,000 after buying an additional 2,200 shares during the period. First PREMIER Bank raised its position in Novartis AG by 2.4% in the first quarter. First PREMIER Bank now owns 2,242 shares of the company’s stock valued at $166,000 after buying an additional 52 shares during the period. Capstone Asset Management Co. raised its position in Novartis AG by 7.6% in the first quarter. Capstone Asset Management Co. now owns 128,300 shares of the company’s stock valued at $9,529,000 after buying an additional 9,010 shares during the period. TNB Financial purchased a new position in Novartis AG during the first quarter valued at $6,982,000. Finally, Hall Laurie J Trustee raised its position in Novartis AG by 2.8% in the first quarter. Hall Laurie J Trustee now owns 16,663 shares of the company’s stock valued at $1,229,000 after buying an additional 450 shares during the period. 11.27% of the stock is owned by hedge funds and other institutional investors.
Novartis AG 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 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.