Novartis AG (NVS) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Novartis AG (NYSE:NVS) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. The brokerage currently has $96.00 price objective on the stock.

According to Zacks, “Novartis has a strong oncology portfolio of drugs like Afinitor, Exjade, Jakavi, Zykadia, Tasigna, Jadenu, an improved formulation of Exjade and the recently approved Kisqali. The recent approval of Kymriah for acute lymphoblastic leukemia is a major boost for Novartis given the potential in the CAR T therapy space.Growth drivers like Cosentyx and Entresto, more than offset the impact of generic erosion, mainly due to Glivec. Cosentyx hit blockbuster status in 2016. Earlier, Novartis announced that it is mulling strategic options for Alcon which includes retaining the business, or a separation via capital market transactions such as a spin-off or an initial public offering. The company will elaborate on its plans for Alcon by end of the year. We are also impressed by the progress in the biosimilars portfolio as the company is on track to launch five more biosimilars by 2020. Shares of the company have outperformed the industry so far in 2017.”

Other analysts also recently issued research reports about the company. UBS AG reiterated a neutral rating on shares of Novartis AG in a research report on Tuesday, May 30th. J P Morgan Chase & Co reiterated a neutral rating on shares of Novartis AG in a research report on Thursday, June 22nd. Barclays PLC upgraded Novartis AG from an underweight rating to an equal weight rating in a research report on Thursday, June 22nd. Credit Suisse Group downgraded Novartis AG from a neutral rating to an underperform rating and set a $82.25 price objective for the company. in a research report on Wednesday, July 5th. Finally, Leerink Swann reiterated a market perform rating and issued a $83.00 price objective on shares of Novartis AG in a research report on Thursday, June 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. Novartis AG has a consensus rating of Hold and an average target price of $85.12.

Shares of Novartis AG (NVS) opened at 85.85 on Tuesday. The firm has a market cap of $201.14 billion, a P/E ratio of 31.34 and a beta of 0.74. The firm’s 50-day moving average is $84.30 and its 200-day moving average is $80.50. Novartis AG has a 52-week low of $66.93 and a 52-week high of $86.90.

Novartis AG (NYSE:NVS) last announced its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.06. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The firm had revenue of $12.24 billion during the quarter, compared to the consensus estimate of $12.20 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. The business’s revenue was down 1.8% on a year-over-year basis. Analysts anticipate that Novartis AG will post $4.75 earnings per share for the current year.

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In other Novartis AG news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of Novartis AG stock in a transaction dated Wednesday, July 5th. The shares were purchased at an average cost of $15.00 per share, with a total value of $4,000,005.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.01% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the stock. City Holding Co. grew its stake in Novartis AG by 4.6% in the second quarter. City Holding Co. now owns 1,217 shares of the company’s stock worth $102,000 after purchasing an additional 54 shares during the period. WFG Advisors LP grew its stake in Novartis AG by 38.1% in the second quarter. WFG Advisors LP now owns 1,221 shares of the company’s stock worth $102,000 after purchasing an additional 337 shares during the period. TCI Wealth Advisors Inc. grew its stake in Novartis AG by 20.0% in the first quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock worth $103,000 after purchasing an additional 230 shares during the period. Archford Capital Strategies LLC grew its stake in Novartis AG by 72.3% in the first quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock worth $110,000 after purchasing an additional 621 shares during the period. Finally, Kernodle & Katon Asset Management Group LLC grew its stake in Novartis AG by 3.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock worth $111,000 after purchasing an additional 49 shares during the period. 10.93% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Novartis AG (NYSE:NVS)

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