Brokerages Set Novartis AG (NYSE:NVS) Target Price at $120.70

Novartis AG (NYSE:NVS) has earned an average rating of “Reduce” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $120.70.

A number of research firms have recently issued reports on NVS. The Goldman Sachs Group reissued 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. Barclays raised Novartis to a “strong sell” rating in a research report on Monday, June 24th. Jefferies Financial Group lowered 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 cut their price objective for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a report on Friday, July 19th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NVS. Founders Financial Securities LLC boosted its stake in shares of Novartis by 3.4% in the 2nd quarter. Founders Financial Securities LLC now owns 2,832 shares of the company’s stock valued at $301,000 after buying an additional 94 shares during the period. Steigerwald Gordon & Koch Inc. lifted its stake in Novartis by 4.8% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock worth $241,000 after acquiring an additional 95 shares during the last quarter. NBC Securities Inc. grew its holdings in Novartis by 0.9% during the 2nd quarter. NBC Securities Inc. now owns 10,492 shares of the company’s stock worth $1,116,000 after acquiring an additional 97 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Novartis by 5.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company’s stock worth $196,000 after acquiring an additional 98 shares in the last quarter. Finally, Portside Wealth Group LLC increased its position in shares of Novartis by 3.4% in the 2nd quarter. Portside Wealth Group LLC now owns 3,000 shares of the company’s stock valued at $319,000 after purchasing an additional 99 shares during the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Trading Down 0.7 %

Shares of Novartis stock opened at $114.81 on Friday. Novartis has a fifty-two week low of $92.19 and a fifty-two week high of $120.92. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93. The firm has a market capitalization of $234.67 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 1.72 and a beta of 0.57. The stock has a 50 day moving average of $115.61 and a 200 day moving average of $106.99.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Thursday, July 18th. The company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. Novartis had a return on equity of 34.56% and a net margin of 33.76%. The firm had revenue of $12.87 billion during the quarter, compared to the consensus estimate of $12.24 billion. During the same period last year, the company earned $1.83 EPS. As a group, research analysts predict that Novartis will post 7.52 earnings per share for the current 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.