Trade Report: The Chardan Capital Trims Novartis AG (NVS) Target Price to $92.00

The Chardan Capital Trims Novartis AG (NVS) Target Price to $92.00

Novartis AG (NYSE:NVS) had its price objective reduced by Chardan Capital from $95.00 to $92.00 in a research note issued to investors on Monday. They currently have a buy rating on the stock.

Several other brokerages have also recently weighed in on NVS. Argus reaffirmed a hold rating on shares of Novartis AG in a research report on Thursday, August 25th. Zacks Investment Research cut shares of Novartis AG from a buy rating to a hold rating in a research report on Tuesday, July 12th. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Novartis AG in a research report on Tuesday, July 19th. TheStreet cut shares of Novartis AG from a buy rating to a hold rating in a research report on Wednesday, September 28th. Finally, Bank of America Corp. reaffirmed a hold rating on shares of Novartis AG in a research report on Tuesday, July 12th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $91.33.

Shares of Novartis AG (NYSE:NVS) opened at 76.37 on Monday. Novartis AG has a 52-week low of $69.89 and a 52-week high of $95.11. The company has a 50 day moving average price of $79.53 and a 200-day moving average price of $78.96. The firm has a market cap of $181.85 billion, a P/E ratio of 27.27 and a beta of 0.57.

Novartis AG (NYSE:NVS) last released its quarterly earnings data on Tuesday, July 19th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.05. The company had revenue of $12.47 billion for the quarter, compared to analysts’ expectations of $12.33 billion. Novartis AG had a net margin of 13.84% and a return on equity of 15.33%. During the same quarter in the prior year, the firm earned $1.25 EPS. On average, analysts expect that Novartis AG will post $4.72 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of NVS. Sunbelt Securities Inc. raised its stake in shares of Novartis AG by 0.3% in the second quarter. Sunbelt Securities Inc. now owns 4,545 shares of the company’s stock valued at $375,000 after buying an additional 15 shares during the last quarter. PacWest Financial Management Inc raised its stake in shares of Novartis AG by 0.4% in the third quarter. PacWest Financial Management Inc now owns 6,254 shares of the company’s stock valued at $494,000 after buying an additional 25 shares during the last quarter. Wealthsource Partners LLC raised its stake in shares of Novartis AG by 1.3% in the second quarter. Wealthsource Partners LLC now owns 2,907 shares of the company’s stock valued at $240,000 after buying an additional 38 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Novartis AG by 0.3% in the second quarter. Ameritas Investment Partners Inc. now owns 13,133 shares of the company’s stock valued at $1,083,000 after buying an additional 44 shares during the last quarter. Finally, Private Trust Co. NA raised its stake in shares of Novartis AG by 1.7% in the second quarter. Private Trust Co. NA now owns 2,899 shares of the company’s stock valued at $239,000 after buying an additional 48 shares during the last quarter. Institutional investors own 9.78% of the company’s stock.

Novartis AG Company Profile

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