J P Morgan Chase & Co Reaffirms Neutral Rating for Novartis AG (NVS)

J P Morgan Chase & Co reaffirmed their neutral rating on shares of Novartis AG (NYSE:NVS) in a research note issued to investors on Tuesday.

Several other research analysts have also weighed in on NVS. Barclays PLC raised Novartis AG from an underweight rating to an equal weight rating in a research report on Thursday, June 22nd. Leerink Swann reaffirmed a market perform rating and issued a $83.00 target price on shares of Novartis AG in a research report on Thursday, June 22nd. Credit Suisse Group lowered Novartis AG from a neutral rating to an underperform rating and set a $82.25 target price on the stock. in a research report on Wednesday, July 5th. Zacks Investment Research downgraded Novartis AG from a hold rating to a sell rating in a report on Monday, July 10th. Finally, Cowen and Company set a $77.00 price target on Novartis AG and gave the company a hold rating in a report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. Novartis AG has a consensus rating of Hold and an average target price of $84.13.

Novartis AG (NYSE:NVS) traded up 0.07% during midday trading on Tuesday, reaching $86.05. The company’s stock had a trading volume of 343,692 shares. The stock has a market capitalization of $201.61 billion, a PE ratio of 31.42 and a beta of 0.73. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90. The firm’s 50-day moving average price is $85.15 and its 200-day moving average price is $81.72.

Novartis AG (NYSE:NVS) last issued its earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.06. The business had revenue of $12.24 billion for the quarter, compared to analyst estimates of $12.20 billion. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period last year, the company posted $1.23 EPS. On average, analysts anticipate that Novartis AG will post $4.75 earnings per share for the current year.

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Several institutional investors have recently made changes to their positions in NVS. BlackRock Inc. acquired a new stake in shares of Novartis AG during the first quarter valued at about $210,378,000. Janus Henderson Group PLC grew its stake in shares of Novartis AG by 42,797.5% during the second quarter. Janus Henderson Group PLC now owns 1,914,516 shares of the company’s stock valued at $159,821,000 after acquiring an additional 1,910,053 shares in the last quarter. Janus Capital Management LLC grew its stake in shares of Novartis AG by 34,406.2% during the first quarter. Janus Capital Management LLC now owns 1,759,816 shares of the company’s stock valued at $130,696,000 after acquiring an additional 1,754,716 shares in the last quarter. FMR LLC grew its stake in shares of Novartis AG by 172.1% during the second quarter. FMR LLC now owns 2,294,782 shares of the company’s stock valued at $191,546,000 after acquiring an additional 1,451,441 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of Novartis AG during the second quarter valued at about $71,606,000. Institutional investors own 10.92% of the company’s stock.

Novartis AG 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.

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