Novartis AG (NYSE:NVS) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Novartis AG (NYSE:NVS) have received a consensus recommendation of “Reduce” from the nine ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $121.50.

Several equities research analysts have recently issued reports on NVS shares. Jefferies Financial Group cut shares of Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Bank of America downgraded Novartis from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $135.00 to $130.00 in a report on Wednesday, September 11th. BMO Capital Markets increased their price objective on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Erste Group Bank restated a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $121.00 price target (up from $119.00) on shares of Novartis in a research note on Thursday, September 5th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NVS. Raymond James & Associates lifted its stake in Novartis by 1.3% in the 2nd quarter. Raymond James & Associates now owns 536,607 shares of the company’s stock valued at $57,127,000 after buying an additional 6,767 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in Novartis during the second quarter valued at approximately $15,044,000. Integral Health Asset Management LLC lifted its holdings in shares of Novartis by 33.3% during the 2nd quarter. Integral Health Asset Management LLC now owns 300,000 shares of the company’s stock valued at $31,938,000 after acquiring an additional 75,000 shares in the last quarter. Granite Bay Wealth Management LLC purchased a new stake in shares of Novartis in the second quarter worth about $854,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Novartis by 115.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 231,792 shares of the company’s stock valued at $26,797,000 after acquiring an additional 124,111 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Performance

Shares of NVS opened at $104.87 on Friday. Novartis has a 1 year low of $92.35 and a 1 year high of $120.92. The stock has a market capitalization of $214.35 billion, a PE ratio of 12.18, a PEG ratio of 1.49 and a beta of 0.58. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. The stock has a 50-day simple moving average of $111.14 and a 200-day simple moving average of $110.20.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Novartis had a net margin of 35.96% and a return on equity of 34.80%. The company had revenue of $12.82 billion during the quarter, compared to the consensus estimate of $12.62 billion. During the same quarter in the previous year, the firm earned $1.74 earnings per share. On average, analysts predict that Novartis will post 7.66 earnings per share for the current fiscal year.

Novartis Company Profile

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.