Novartis (NVS) Rating Increased to Conviction-Buy at Goldman Sachs Group

Share on StockTwits

Goldman Sachs Group upgraded shares of Novartis (NYSE:NVS) from a neutral rating to a conviction-buy rating in a research note published on Friday, MarketBeat.com reports.

NVS has been the subject of several other research reports. Bank of America upgraded shares of Novartis from an underperform rating to a buy rating and set a $74.71 price objective for the company in a research note on Monday, September 10th. Zacks Investment Research lowered shares of Novartis from a hold rating to a sell rating in a research note on Wednesday, August 29th. JPMorgan Chase & Co. reiterated a neutral rating on shares of Novartis in a research note on Thursday, October 11th. Guggenheim initiated coverage on shares of Novartis in a research note on Monday, October 8th. They set a neutral rating for the company. Finally, ValuEngine upgraded shares of Novartis from a sell rating to a hold rating in a research note on Wednesday, September 12th. Eleven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $84.86.

NYSE NVS opened at $88.31 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.20 and a quick ratio of 0.96. The company has a market cap of $203.36 billion, a P/E ratio of 18.36, a PEG ratio of 1.94 and a beta of 0.73. Novartis has a 52 week low of $72.30 and a 52 week high of $94.19.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Thursday, October 18th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.31 by $0.01. The firm had revenue of $12.78 billion during the quarter, compared to analyst estimates of $12.88 billion. Novartis had a net margin of 25.98% and a return on equity of 15.81%. Novartis’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.29 EPS. Research analysts forecast that Novartis will post 5.17 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in NVS. Charles Schwab Investment Advisory Inc. purchased a new stake in Novartis during the 2nd quarter worth approximately $297,538,000. Matthew Goff Investment Advisor LLC grew its position in Novartis by 7,454.1% during the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 2,945,178 shares of the company’s stock worth $38,988,000 after purchasing an additional 2,906,190 shares during the last quarter. Boston Partners grew its position in Novartis by 106.0% during the 2nd quarter. Boston Partners now owns 5,606,630 shares of the company’s stock worth $423,525,000 after purchasing an additional 2,885,436 shares during the last quarter. Renaissance Technologies LLC grew its position in Novartis by 89.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,856,288 shares of the company’s stock worth $291,304,000 after purchasing an additional 1,819,590 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Novartis during the 3rd quarter worth approximately $87,734,000. 10.99% of the stock is currently owned by institutional investors.

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.

Recommended Story: Depreciation

Analyst Recommendations for Novartis (NYSE:NVS)

Receive News & Ratings for Novartis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply