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.
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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