Analysts Set Novartis AG (NYSE:NVS) PT at $118.38

Shares of Novartis AG (NYSE:NVS) have earned an average rating of “Reduce” from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $120.70.

NVS has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a report on Friday, July 19th. Bank of America downgraded shares of Novartis from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $135.00 to $130.00 in a research report on Wednesday. Jefferies Financial Group downgraded shares of Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. The Goldman Sachs Group reissued a “neutral” rating and set a $121.00 target price (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Finally, Barclays raised shares of Novartis to a “strong sell” rating in a research report on Monday, June 24th.

Novartis Price Performance

Shares of NVS opened at $115.29 on Monday. The firm has a market cap of $235.65 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. Novartis has a 52-week low of $92.19 and a 52-week high of $120.92. The business’s 50 day moving average price is $113.25 and its two-hundred day moving average price is $104.81. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. Novartis had a net margin of 33.76% and a return on equity of 34.56%. The business had revenue of $12.87 billion during the quarter, compared to analysts’ expectations of $12.24 billion. During the same period last year, the company posted $1.83 earnings per share. On average, equities analysts anticipate that Novartis will post 7.5 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Frazier Financial Advisors LLC purchased a new position in Novartis in the fourth quarter valued at about $26,000. Private Ocean LLC purchased a new stake in shares of Novartis during the 1st quarter valued at approximately $25,000. Richardson Financial Services Inc. purchased a new stake in shares of Novartis during the 4th quarter valued at approximately $26,000. New Millennium Group LLC purchased a new stake in shares of Novartis during the 2nd quarter valued at approximately $28,000. Finally, Clearstead Trust LLC lifted its stake in shares of Novartis by 73.5% during the 1st quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock valued at $26,000 after buying an additional 114 shares in the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

About Novartis

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.