Novartis’ (NVS) Neutral Rating Reiterated at Goldman Sachs Group

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Goldman Sachs Group reaffirmed their neutral rating on shares of Novartis (NYSE:NVS) in a research note issued to investors on Wednesday.

NVS has been the subject of several other research reports. Bank of America upgraded Novartis from an underperform rating to a buy rating and set a $74.71 price objective for the company in a research report on Monday, September 10th. Zacks Investment Research downgraded Novartis from a hold rating to a sell rating in a research report on Wednesday, August 29th. ValuEngine upgraded Novartis from a sell rating to a hold rating in a research report on Wednesday, September 12th. JPMorgan Chase & Co. reiterated a neutral rating on shares of Novartis in a research report on Thursday, July 19th. Finally, Citigroup upgraded Novartis from a neutral rating to a buy rating in a research report on Tuesday, September 11th. Thirteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Novartis currently has an average rating of Hold and a consensus target price of $86.90.

Shares of NVS opened at $82.78 on Wednesday. The company has a market capitalization of $199.67 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.80 and a beta of 0.83. The company has a quick ratio of 0.89, a current ratio of 1.15 and a debt-to-equity ratio of 0.30. Novartis has a 1 year low of $72.30 and a 1 year high of $94.19.

Novartis (NYSE:NVS) last issued its earnings results on Wednesday, July 18th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.02. The business had revenue of $13.16 billion during the quarter, compared to analyst estimates of $12.93 billion. Novartis had a return on equity of 16.05% and a net margin of 27.06%. Novartis’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.22 earnings per share. Sell-side analysts anticipate that Novartis will post 5.17 earnings per share for the current fiscal year.

In other Novartis news, major shareholder Bioventures Ltd Novartis sold 8,181 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $3.22, for a total value of $26,342.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 81,322 shares of company stock valued at $290,796 in the last quarter. Corporate insiders own 0.01% of the company’s stock.

Several institutional investors have recently made changes to their positions in NVS. Winthrop Partners WNY LLC bought a new position in shares of Novartis during the first quarter valued at approximately $100,000. Gables Capital Management Inc. bought a new position in shares of Novartis during the first quarter valued at approximately $103,000. Quad Cities Investment Group LLC bought a new position in shares of Novartis during the second quarter valued at approximately $139,000. Moneta Group Investment Advisors LLC bought a new position in shares of Novartis during the second quarter valued at approximately $174,000. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Novartis during the second quarter valued at approximately $199,000. Institutional investors own 10.94% of the company’s stock.

Novartis Company Profile

Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.

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Analyst Recommendations for Novartis (NYSE:NVS)

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