Novartis AG (NYSE:NVS) PT Set at $90.00 by Cowen and Company
Novartis AG (NYSE:NVS) has been assigned a $90.00 price target by Cowen and Company in a note issued to investors on Wednesday. The brokerage currently has a “hold” rating on the stock. Cowen and Company’s target price indicates a potential upside of 6.91% from the company’s previous close.
Other research analysts have also recently issued reports about the company. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a report on Thursday, June 22nd. UBS AG reaffirmed a “neutral” rating on shares of Novartis AG in a report on Tuesday, May 30th. Leerink Swann reaffirmed a “market perform” rating and issued a $83.00 price target on shares of Novartis AG in a report on Thursday, June 22nd. Vetr cut Novartis AG from a “buy” rating to a “hold” rating and set a $78.32 price target for the company. in a report on Tuesday, April 25th. Finally, Barclays PLC raised Novartis AG from an “underweight” rating to an “equal weight” rating in a report on Thursday, June 22nd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $83.56.
Novartis AG (NYSE NVS) opened at 84.18 on Wednesday. Novartis AG has a 12 month low of $66.93 and a 12 month high of $86.90. The company has a market cap of $197.22 billion, a price-to-earnings ratio of 30.73 and a beta of 0.73. The company has a 50-day moving average of $84.23 and a 200-day moving average of $78.55.
Novartis AG (NYSE:NVS) last released its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ 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 period in the previous year, the business posted $1.23 earnings per share. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. Analysts predict that Novartis AG will post $4.73 EPS for the current year.
In related news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was bought at an average cost of $15.00 per share, for a total transaction of $4,000,005.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.01% of the company’s stock.
Several institutional investors have recently bought and sold shares of NVS. Westwood Holdings Group Inc. raised its position in Novartis AG by 5.6% in the first quarter. Westwood Holdings Group Inc. now owns 5,405 shares of the company’s stock valued at $401,000 after buying an additional 285 shares during the last quarter. AT Bancorp raised its position in Novartis AG by 4.2% in the first quarter. AT Bancorp now owns 11,690 shares of the company’s stock valued at $868,000 after buying an additional 470 shares during the last quarter. Physicians Financial Services Inc. raised its position in Novartis AG by 11.4% in the first quarter. Physicians Financial Services Inc. now owns 16,583 shares of the company’s stock valued at $1,232,000 after buying an additional 1,700 shares during the last quarter. Prentiss Smith & Co. Inc. raised its position in Novartis AG by 2.4% in the first quarter. Prentiss Smith & Co. Inc. now owns 136,441 shares of the company’s stock valued at $10,133,000 after buying an additional 3,239 shares during the last quarter. Finally, Mawer Investment Management Ltd. raised its position in Novartis AG by 2.9% in the first quarter. Mawer Investment Management Ltd. now owns 3,122,065 shares of the company’s stock valued at $231,876,000 after buying an additional 88,610 shares during the last quarter. Institutional investors own 11.27% of the company’s stock.
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.
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