Novartis AG (NYSE:NVS) Upgraded to Hold at BidaskClub

BidaskClub upgraded shares of Novartis AG (NYSE:NVS) from a sell rating to a hold rating in a report released on Saturday, August 5th.

Several other analysts have also issued reports on NVS. UBS AG reaffirmed a neutral rating on shares of Novartis AG in a research report on Tuesday, May 30th. J P Morgan Chase & Co reaffirmed a neutral rating on shares of Novartis AG in a research report on Thursday, June 8th. TheStreet raised shares of Novartis AG from a c+ rating to a b rating in a research report on Friday, June 2nd. Cowen and Company reaffirmed a hold rating on shares of Novartis AG in a research report on Tuesday, July 18th. Finally, Barclays PLC raised shares of Novartis AG from an underweight rating to an equal weight rating in a research report on Thursday, June 22nd. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $83.56.

Shares of Novartis AG (NYSE:NVS) opened at 82.76 on Friday. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90. The firm has a market cap of $193.90 billion, a price-to-earnings ratio of 30.22 and a beta of 0.73. The firm’s 50 day moving average is $83.92 and its 200-day moving average is $79.10.

Novartis AG (NYSE:NVS) last posted its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.06. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. The firm had revenue of $12.24 billion for the quarter, compared to analyst estimates of $12.20 billion. During the same period in the prior year, the firm posted $1.23 earnings per share. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities research analysts predict that Novartis AG will post $4.73 EPS for the current year.

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

Institutional investors have recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. raised its position in Novartis AG by 5.6% in the first quarter. Westwood Holdings Group Inc. now owns 5,405 shares of the company’s stock worth $401,000 after buying an additional 285 shares in the last quarter. AT Bancorp raised its position in Novartis AG by 4.2% in the first quarter. AT Bancorp now owns 11,690 shares of the company’s stock worth $868,000 after buying an additional 470 shares in the last quarter. Mechanics Bank Trust Department acquired a new position in Novartis AG during the second quarter worth approximately $389,000. Physicians Financial Services Inc. raised its position in Novartis AG by 11.4% in the first quarter. Physicians Financial Services Inc. now owns 16,583 shares of the company’s stock worth $1,232,000 after buying an additional 1,700 shares in the last quarter. Finally, Investment Centers of America Inc. raised its position in Novartis AG by 3.1% in the first quarter. Investment Centers of America Inc. now owns 7,639 shares of the company’s stock worth $566,000 after buying an additional 231 shares in the last quarter. 11.16% of the stock is currently owned by institutional investors and hedge funds.

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.

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