Brokerages Set Novartis AG (NVS) Price Target at $80.42

Novartis AG (NYSE:NVS) has earned an average recommendation of “Hold” from the eighteen ratings firms that are presently covering the company. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $80.42.

A number of analysts recently issued reports on NVS shares. Vetr raised Novartis AG from a “buy” rating to a “strong-buy” rating and set a $85.99 target price on the stock in a research report on Wednesday, March 15th. Argus raised Novartis AG from a “hold” rating to a “buy” rating in a research report on Tuesday, January 31st. Zacks Investment Research raised Novartis AG from a “strong sell” rating to a “hold” rating in a research report on Monday, May 1st. Goldman Sachs Group Inc reissued a “neutral” rating on shares of Novartis AG in a research report on Wednesday, March 22nd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novartis AG in a research report on Thursday, March 23rd.

Several large investors have recently modified their holdings of NVS. Henderson Group PLC raised its position in Novartis AG by 13.6% in the third quarter. Henderson Group PLC now owns 4,463 shares of the company’s stock worth $352,000 after buying an additional 534 shares in the last quarter. Tocqueville Asset Management L.P. increased its position in shares of Novartis AG by 7.0% in the third quarter. Tocqueville Asset Management L.P. now owns 411,604 shares of the company’s stock valued at $32,500,000 after buying an additional 27,069 shares during the last quarter. Narwhal Capital Management increased its position in shares of Novartis AG by 2.7% in the third quarter. Narwhal Capital Management now owns 14,975 shares of the company’s stock valued at $1,182,000 after buying an additional 400 shares during the last quarter. Valley National Advisers Inc. increased its position in shares of Novartis AG by 85.1% in the third quarter. Valley National Advisers Inc. now owns 43,711 shares of the company’s stock valued at $3,451,000 after buying an additional 20,102 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. increased its position in shares of Novartis AG by 1.5% in the third quarter. Punch & Associates Investment Management Inc. now owns 32,056 shares of the company’s stock valued at $2,531,000 after buying an additional 476 shares during the last quarter. Institutional investors own 9.82% of the company’s stock.

Shares of Novartis AG (NYSE:NVS) traded up 0.42% on Monday, reaching $80.42. The company’s stock had a trading volume of 4,565,158 shares. Novartis AG has a 1-year low of $66.93 and a 1-year high of $83.58. The company’s 50 day moving average is $76.31 and its 200-day moving average is $73.76. The stock has a market cap of $190.24 billion, a PE ratio of 30.23 and a beta of 0.73.

Novartis AG (NYSE:NVS) last issued its quarterly earnings results on Tuesday, April 25th. The company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. The company had revenue of $11.54 billion for the quarter, compared to analyst estimates of $11.59 billion. Novartis AG had a return on equity of 15.37% and a net margin of 13.80%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.17 earnings per share. On average, equities analysts predict that Novartis AG will post $4.72 earnings per share for the current fiscal year.

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About Novartis AG

Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.

12 Month Chart for NYSE:NVS

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