Todays Report: The Novartis AG (NVS) Earns “Buy” Rating from JPMorgan Chase & Co.

The Novartis AG (NVS) Earns “Buy” Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their buy rating on shares of Novartis AG (NYSE:NVS) in a research note issued to investors on Monday morning.

NVS has been the topic of several other reports. Zacks Investment Research raised shares of Novartis AG from a hold rating to a buy rating and set a $92.00 price objective on the stock in a report on Monday, July 11th. TheStreet raised shares of Novartis AG from a hold rating to a buy rating in a research note on Friday, June 24th. Chardan Capital decreased their price target on shares of Novartis AG from $95.00 to $92.00 and set a buy rating on the stock in a research note on Monday. Bank of America Corp. reissued a hold rating on shares of Novartis AG in a research note on Tuesday, July 12th. Finally, Argus reissued a hold rating on shares of Novartis AG in a research note on Thursday, August 25th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $91.33.

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 market capitalization of $181.85 billion, a P/E ratio of 27.27 and a beta of 0.57. The firm has a 50-day moving average of $79.53 and a 200-day moving average of $78.96.

Novartis AG (NYSE:NVS) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.05. The business had revenue of $12.47 billion for the quarter, compared to the consensus estimate of $12.33 billion. Novartis AG had a net margin of 13.84% and a return on equity of 15.33%. During the same period last year, the firm posted $1.25 earnings per share. Analysts anticipate that Novartis AG will post $4.72 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the stock. Quadrature Capital Ltd bought a new stake in shares of Novartis AG during the first quarter worth $11,550,000. UBS Asset Management Americas Inc. boosted its stake in shares of Novartis AG by 183.1% in the first quarter. UBS Asset Management Americas Inc. now owns 76,397 shares of the company’s stock worth $5,534,000 after buying an additional 49,415 shares in the last quarter. Primecap Management Co. CA boosted its stake in shares of Novartis AG by 0.8% in the first quarter. Primecap Management Co. CA now owns 20,938,858 shares of the company’s stock worth $1,516,811,000 after buying an additional 170,750 shares in the last quarter. Bank of Nova Scotia Trust Co. bought a new stake in shares of Novartis AG during the first quarter worth $2,290,000. Finally, Scotia Capital Inc. boosted its stake in shares of Novartis AG by 57.0% in the first quarter. Scotia Capital Inc. now owns 41,118 shares of the company’s stock worth $2,980,000 after buying an additional 14,924 shares in the last quarter. Institutional investors and hedge funds own 9.78% of the company’s stock.

Novartis AG Company Profile

Related posts

Leave a Comment