Novartis (NVS) Lowered to “Underperform” at Bank of America

Bank of America cut shares of Novartis (NYSE:NVS) from a neutral rating to an underperform rating in a report issued on Wednesday morning.

NVS has been the subject of a number of other research reports. Barclays downgraded shares of Novartis from an equal weight rating to an underweight rating in a research report on Wednesday, October 25th. BidaskClub raised shares of Novartis from a sell rating to a hold rating in a research report on Saturday, August 19th. Zacks Investment Research raised shares of Novartis from a hold rating to a buy rating and set a $96.00 price objective for the company in a report on Tuesday, September 19th. J P Morgan Chase & Co reaffirmed a neutral rating on shares of Novartis in a report on Tuesday, October 31st. Finally, Leerink Swann lifted their price objective on shares of Novartis from $89.00 to $91.00 and gave the stock a market perform rating in a report on Monday, October 23rd. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $85.32.

Novartis (NYSE:NVS) traded down $0.66 during mid-day trading on Wednesday, hitting $83.18. 1,256,800 shares of the stock were exchanged, compared to its average volume of 2,275,874. Novartis has a twelve month low of $66.93 and a twelve month high of $86.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.08 and a quick ratio of 0.81. The firm has a market capitalization of $198,331.47, a P/E ratio of 17.65, a P/E/G ratio of 2.67 and a beta of 0.73.

Novartis (NYSE:NVS) last released its quarterly earnings results on Tuesday, October 24th. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. Novartis had a net margin of 13.73% and a return on equity of 15.77%. The business had revenue of $12.41 billion during the quarter, compared to the consensus estimate of $12.21 billion. During the same quarter last year, the company earned $1.23 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. research analysts forecast that Novartis will post 4.75 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. WFG Advisors LP boosted its holdings in shares of Novartis by 38.1% during the second quarter. WFG Advisors LP now owns 1,221 shares of the company’s stock valued at $102,000 after acquiring an additional 337 shares during the period. Wealthcare Advisory Partners LLC acquired a new position in shares of Novartis during the third quarter valued at $106,000. Cable Hill Partners LLC boosted its holdings in shares of Novartis by 588.8% during the third quarter. Cable Hill Partners LLC now owns 1,295 shares of the company’s stock valued at $112,000 after acquiring an additional 1,107 shares during the period. Harding Loevner LP acquired a new position in shares of Novartis during the second quarter valued at $146,000. Finally, Mosaic Family Wealth LLC boosted its holdings in shares of Novartis by 6.1% during the second quarter. Mosaic Family Wealth LLC now owns 2,144 shares of the company’s stock valued at $179,000 after acquiring an additional 123 shares during the period. 10.87% of the stock is owned by hedge funds and other institutional investors.

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Novartis Company Profile

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 (NYSE:NVS)

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