Novartis (NYSE:NVS) Given Hold Rating at Erste Group Bank

Erste Group Bank restated their hold rating on shares of Novartis (NYSE:NVS) in a report released on Tuesday morning,Benzinga reports.

A number of other analysts have also issued reports on the company. Bank of America lowered Novartis from a “buy” rating to a “neutral” rating and lowered their target price for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. Jefferies Financial Group cut 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 issued a $121.00 price objective (up previously from $119.00) on shares of Novartis in a research note on Thursday, September 5th. Finally, BMO Capital Markets increased their price objective on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Novartis currently has an average rating of “Hold” and a consensus price target of $121.50.

Novartis Stock Up 0.2 %

NVS opened at $103.27 on Tuesday. 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’s fifty day moving average is $112.58 and its 200-day moving average is $110.10. Novartis has a one year low of $92.35 and a one year high of $120.92. The company has a market capitalization of $211.08 billion, a PE ratio of 11.99, a P/E/G ratio of 1.49 and a beta of 0.58.

Novartis (NYSE:NVS) last announced its earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $12.62 billion. During the same period last year, the company posted $1.74 earnings per share. On average, equities analysts predict that Novartis will post 7.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Novartis

Several institutional investors have recently modified their holdings of the business. Founders Financial Securities LLC raised its position in shares of Novartis by 3.4% during the 2nd quarter. Founders Financial Securities LLC now owns 2,832 shares of the company’s stock valued at $301,000 after acquiring an additional 94 shares during the last quarter. Steigerwald Gordon & Koch Inc. boosted its holdings in Novartis by 4.8% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock worth $241,000 after buying an additional 95 shares during the last quarter. NBC Securities Inc. grew its position in shares of 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 buying an additional 97 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Novartis by 5.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company’s stock valued at $196,000 after acquiring an additional 98 shares during the last quarter. Finally, Centaurus Financial Inc. raised its position in shares of Novartis by 1.7% in the 3rd quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock valued at $659,000 after acquiring an additional 98 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

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.